Starting Friday, companies that provide loan modification services must be licensed or face a fine under a law that kicks in to further protect consumers from fraud when they refinance or renegotiate a loan. Facing a rash of complaints from already cash-strapped consumers, lawmakers earlier this year made changes to the Florida Mortgage Brokerage...

SACRAMENTO, Calif.----Whitfield Financial Services Inc. , which operated a statewide loan modification business, surrendered its real estate license in lieu of defending accusations of violations of the real estate law at an administrative hearing.

SACRAMENTO, Calif.----Whitfield Financial Services Inc. , which operated a statewide loan modification business, surrendered its real estate license in lieu of defending accusations of violations of the real estate law at an administrative hearing.

When it comes to loan modifications, as of the beginning December, less than 32,000 had been approved nationwide in nine months.

Law adds licensing requirements to home loan professionals Florida's Office of Financial Regulation has received 4,600 mortgage broker licensing applications since July, more than double the amount requested for all of last fiscal year.