National Association Of Mortgage Underwriters

Loan sharks are unlicensed money lenders who often operate outside of the law. They are often found in low-income, vulnerable communities and prey upon individuals who are desperate for quick cash. Loan sharks offer high-interest loans and often use threats of violence and other intimidating tactics to pressure borrowers into paying back. They are often found in areas where people are more likely to struggle with debt, such as those with a low income or a poor credit history. Loan sharks have been known to have connections to organized crime, and their activities can be a major source of money laundering. Because of this, it’s important to be aware of loan sharks and to know where they may be found. It is illegal to borrow money from a loan shark

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