Legal marijuana sales keeping Colorado’s housing market blazing

A gauge of the influence legalized marijuana might have on real estate and mortgage lending nationwide is happening in Colorado. Cannabis for personal, recreational and industrial use has been legal there since the start of 2014. But while the mortgage industry has converged on Denver for this year’s Mortgage Bankers Association’s Annual Convention and Expo, compliance concerns on the federal level are keeping mortgage lenders from making loans to cannabis workers in Colorado, 28 other states, plus Washington, D.C.

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Source: National Mortgage News

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