Code of Conduct
Arizona Private Lender Association Code of Conduct
Every APLA member is either the owner, responsible individual, or an employee of a company licensed and regulated by the Arizona Department of Financial Institutions.
We welcome everyone who believes they may qualify as either a Regular or Affiliate member of APLA to come to a Member Meeting (at no charge) to see if you think APLA would be a good fit and value for you.
If you have a loan request you may either contact our members here, or alternatively, you may fill out our loan request form and it will be sent to every members of the Arizona Private Lender Association.
This is a very efficient way for you to receive potentially many responses to your loan request. And remember, by working with a member of the Arizona Private Lender Association, you know that you are working with a licensed and regulated mortgage company and individuals that adhere to our Code of Conduct.
In consideration for application as a member of the Arizona Private Lender Association, an Arizona Non-Profit Corporation, all applicants agree to abide by the following Code of Conduct:
- A member shall strive to maintain a good reputation in the general Arizona business community.
- A member shall be in compliance with the Arizona statutes in the course of making private money loans in Arizona.
- A member shall be in compliance with Arizona Revised Statutes Title 6, Chapter 9, Article 1 (Mortgage Brokers), or Article 2 (Mortgage Bankers), or Article 3 (Commercial Mortgage Bankers), unless exempt from licensing, and shall be in compliance with all applicable rules and regulations promulgated by the Arizona Department of Financial Institutions.
- A member shall truthfully account for all monies in a loan transaction.
- A member will not accept fees for services that were not performed, except for any nonrefundable application fees.
- A member shall not pay compensation in connection with arranging for or negotiating a mortgage loan, to a person who is acting as a mortgage broker or mortgage banker, but without an Arizona license, as prohibited by Arizona Revised Statute 6-909B and 6-947B (except as provided in Arizona Revised Statute 6-984B in the case of a commercial loan).
- A member shall not raise funds from investors except in compliance with the Arizona statutes and the rules and regulations of the Arizona Corporation Commission. Further, a member shall not advertise for the purpose of raising funds from investors, except as permitted by Arizona and Federal law.
- A member shall strive to be responsive to all communications from borrowers, including in the event of a loan default.
- A member will not disparage another member of the association to investors or the general public; provided however, it shall not be considered a violation of this provision to discuss anything in the public record.
- A member will put the welfare of investors before themselves.
Every APLA member is either the owner, responsible individual, or an employee of a company licensed and regulated by the Arizona Department of Financial Institutions.
We welcome everyone who believes they may qualify as either a Regular or Affiliate member of APLA to come to a Member Meeting (at no charge) to see if you think APLA would be a good fit and value for you.
If you have a loan request you may either contact our members here, or alternatively, you may fill out our loan request form and it will be sent to every members of the Arizona Private Lender Association.
This is a very efficient way for you to receive potentially many responses to your loan request. And remember, by working with a member of the Arizona Private Lender Association, you know that you are working with a licensed and regulated mortgage company and individuals that adhere to our Code of Conduct.