Today’s Boston Herald has an article about a new state law that that requires Massachusetts loan brokers to undergo credit checks proving financial responsibilities – even with household bills. The new law requires that before obtaining a license or to renew a license the applicant must pass a credit check.
The Boston Herald article stated: Boran Yi Armstrong fell behind on credit-card payments due to kidney transplant surgery. That could cost her a mortgage brokers’s license due to new state law requiring brokers to pass credit checks. The article goes on to state. Some mortgage executives are critical of new credit checks, which have held up about 1,000 brokers license applications.
Did they raise the bar to high on mortgage brokers? Should it be based on a case to case basis?
Source: Boston Herald
photo provided by Flickr
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
Charles River Park
Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114