Barn door closed; are there any horses left?

[Ultraviolet]

http://www.azstarnet.com/sn/hourlyupdate/247205.php


Napolitano signs bill requiring loan originators to have license

 

[timd354]

Licensing is only a band-aid....what really is needed is a strong commitment to actual enforcement of laws and regulations against mortgage fraud by mortgage brokers/lenders, appraisers, borrowers, title companies, and anyone else involved in the mortgage loan process.

 

[dobie]

Licensing is only a band-aid....what really is needed is a strong commitment to actual enforcement of laws and regulations against mortgage fraud by mortgage brokers/lenders, appraisers, borrowers, title companies, and anyone else involved in the mortgage loan process.

Enforcement requires money which the Feds and the States are unwilling to make available. Nothing will change until the Federal gov't. sees the wisdom of providing funding to the chronically underfunded State boards, or takes on a meaningful role in enforcement themselves. I don't see either one of those happening anytime soon.

 

[Urbanz]

If its anything like the mortgage licensing in TX, trust me, its a joke. Here- a 2 day class makes you a licensed pro.

 

[Doug Meyer]

The Indiana Secretary of State has announced that mortgage brokers need to be licensed in Indiana and that they have to do this by 7/1/2008 but since so few have done this they will extend the deadline to August before they shut the MB offices down. Talk about being late to the party!!

 

[JT1974]

Enforcement requires money which the Feds and the States are unwilling to make available. Nothing will change until the Federal gov't. sees the wisdom of providing funding to the chronically underfunded State boards, or takes on a meaningful role in enforcement themselves. I don't see either one of those happening anytime soon.

It seems to me that it would be a lot cheaper to throw a Billion or two at enforcement annually than to spend hundreds of Billions every 20 years bailing out unscrupulous lenders.

 

[Restrain]

It's all about image (licensing) and more money to the state coffers (fees). Not about enforcement or consumer protection.

 

[c w d]

It seems to me that it would be a lot cheaper to throw a Billion or two at enforcement annually than to spend hundreds of Billions every 20 years bailing out unscrupulous lenders.

But the law maker and regulator's friends couldn't make lots of money that way. Are you crazy?!?

 

[Michigan CG]

It seems to me that it would be a lot cheaper to throw a Billion or two at enforcement annually than to spend hundreds of Billions every 20 years bailing out unscrupulous lenders.

There you go making sense again........

 

[Non Sequitur]

Barn door closed; are there any horses left?

Horses, no. But a few Jack A$ses stayed behind.