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NJ Department of Banking and Insurance
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Home > Banking Division > Alert for Mortgage Brokers
Mortgage Broker Alert: LoanCity, Inc.
 

LoanCity Inc., headquartered in San Jose, Calif., has announced the loss of its funding sources, and thus the ability to close on any loans that are not currently funded, or loans currently in its pipeline.

On April 13, 2007, the New Jersey Department of Banking and Insurance issued legal documents ordering LoanCity to stop doing business in the state and took the initial step toward revoking the company's mortgage lender license.

All brokers should have been instructed to immediately seek alternative funding sources with which to close any loans previously placed at LoanCity.

Contact LoanCity
Web site
 
Contact NJDOBI


If you experience problems closing a loan for LoanCity, call:

609-292-7272


 
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New Jersey Department of Banking and Insurance