North Carolina Mortgage Broker Loses License

The Charlotte Observer reports:

• "Matthews-based Hall Financial Services has lost its license and has agreed to reimburse consumers up to $250,000 in an agreement with the N.C. Commissioner of Banks and the N.C. Attorney General. [...] The NCCOB permanently pulled Hall Financial's mortgage broker license as well as the license of its owner James M. Hall. The agency's investigators found Hall originated mortgages without considering borrowers' ability to repay the loans and made misstatements on loan documents. More than 40 percent of loans originated by Hall Financial in a three-year timespan have gone into foreclosure."

For more, see Matthews mortgage broker loses license.

See also, U.S mortgage scammer losing own home to repay victims.

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