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In Reply to: Re: Re: Re: Global One Lending Scam aka WFG Scam posted by Brad Bowman on March 18, 2005 at 06:44:53:
(Regarding World Lending Group a division of World Leadership Group a MLM mortgage broker(?) opportunity) - I have to tell you that at least in Georgia you cannot be compensated for originating loans - which means accepting an application - (legally) unless you are a W2 employee of the licensed broker or lender. Are WLG "employees" actually employed for the mortgage broker/lender or are they simply referring leads? If so then that could be a violation of Federal Law in RESPA - you cannot be compensated for referrals. Look it up. So UNLESS WLG members are actually employees of the broker/lender and they are being compensated I would say they are breaking either state or federal law or both. It won't be long until we see - of that I am certain.