Smart Rate Mortgage, a once prominent residential mortgage company, has recently lost its license and is no longer able to operate in the industry. This development has significant implications for both the company and its clients, as they will now need to seek alternative mortgage options.
In another related update, Michael Strauss, the individual behind the closure of Sprout Mortgage last year, now holds an inactive MLO (Mortgage Loan Originator) license. This indicates that he is no longer actively engaged in mortgage lending activities. These changes highlight the dynamic nature of the mortgage industry and the need for companies and individuals to adapt to evolving regulations and market conditions.
Key points:
– Smart Rate Mortgage, a residential mortgage company, has lost its license and is no longer operational.
– Clients of Smart Rate Mortgage will need to explore other mortgage options.
– Michael Strauss, who closed down Sprout Mortgage in 2022, now has an inactive MLO license, indicating he is no longer actively involved in mortgage lending.
You can read this full article at: https://www.housingwire.com/articles/smart-rate-michael-strauss-no-longer-authorized-to-do-business-in-illinois/(subscription required)
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