The state Department of Banking has revoked the licenses of 10 more mortgage brokers in April as the mortgage crisis continues.
Mortgage brokers have their licenses revoked when their surety bonds are cancelled, which the banking department said usually indicates the company has gone out of business. Out of the 10, three were based in Connecticut – CJ United Mortgage LLC of Easton, Homelink Mortgage of Stratford and Southbury-based Southwood Financial Services.
A total of 70 mortgage brokers have had their Connecticut licenses revoked since late last year. Two task forces have compiled recommendations for the industry that include more stringent standards for brokers.
To read a related Hartford Business Journal article, click here.
