New Network Lets CPAs Originate Mortgages

Fortune Lending Group LLC, Southbury, Conn., has announced the formation of the Financial Professionals Mortgage Network, which enables certified public accountants and other finance professionals to originate mortgage loans for their clients.Fortune, a mortgage lender and broker, said the network will allow CPAs to control a mortgage deal and earn a fee for doing so. "Rather than refer the client to a bank or mortgage broker and hope for the best, CPAs can now play a crucial role in ensuring that the borrower is obtaining the right mortgage at the right price," said Robb Heering, Fortune's chief executive officer. "We have found that CPAs, financial planners, and certain other finance professionals are best suited to assisting consumers with decisions regarding both residential and commercial mortgages." Jay B. Matz, an attorney with Matz & Levitan in Danbury, Conn., and the network's legal counsel, said the business model is in compliance with the Real Estate Settlement Procedures Act.