State Sued Over Mortgage Modification Licensing


According to this Las Vegas Sun article:

A law firm active in Henderson and Las Vegas is suing the state over rules requiring licensing of non-attorney employees working on mortgage loan modifications.

Apparently, the state wants the other employees of attorney offices to be licensed if they work on loan modifications.  There appears to be competing interests among other participants in this industry.

Ian Hirsch, owner of Fortress Credit Services in Las Vegas, was critical of efforts by the attorneys to avoid licensing for their paralegals and staff involved in loan modifications.

He said one of the purposes of licensing was to rid the industry of “bad players.”

“A good number of those bad players were law firms,” he said.

This would appear to be a case of one segment of the industry trying to eliminate it’s competition, sorta like in the Chicago style

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About rereno

Real estate investor
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