What is the role of the Alaska Real Estate Commission in mortgages?

by jazmyn.lehner , in category: Real Estate , 4 months ago

What is the role of the Alaska Real Estate Commission in mortgages?

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1 answer

by brandon_lockman , 3 months ago

@jazmyn.lehner 

The Alaska Real Estate Commission does not have a direct role in mortgages. The commission is responsible for the regulation and licensing of real estate professionals, including real estate salespersons, associate brokers, and brokers, as well as real estate appraisers in the state of Alaska.


However, the Alaska Department of Commerce, Community, and Economic Development's Division of Banking and Securities oversees the regulation of mortgage lenders, brokers, and originators in the state. They aim to protect consumers by ensuring that mortgage professionals operating in Alaska comply with the laws and regulations governing their practices, such as the Alaska Residential Mortgage Lending Act (RMLA).


So, while the Alaska Real Estate Commission does not have a direct role in mortgages, they work alongside other regulatory bodies in the state to ensure that real estate professionals and mortgage lenders operate ethically and within the legal framework.