Nevada Governor Signs Emergency Regulations Imposing Tougher Controls In Fight Against Foreclosure & Loan Modification Scams

In Carson City, Nevada, the Las Vegas Sun reports:

• Gov. Jim Gibbons has signed emergency regulations to allow the state to impose tougher controls to stop foreclosure and loan modification scams. The regulations permit the state Division of Mortgage Lending to license loan modification and foreclosure consultant companies and their agents. [...] The state will be able to charge $750 for an application for a company and $100 additional for each branch office. And there will be a $500 a year fee for a company. An agent application fee is $185. The division must adopt permanent regulations by Aug. 27.

Source: Regulations allow controls on loan modification industry.