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7 states plan to track MBs

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Wow! Ankle bracelets.... That's harsh even for mortgage brokers.

Webbed.
 
Idaho, Iowa, Kentucky, Massachusetts, Nebraska, New York and Rhode Island are the initial states participating. In total, 42 state agencies - including those in Washington, D.C., and Puerto Rico - have committed to joining by the end of 2009.

The system is mandatory for brokers doing business in those states, and state regulators can penalize brokers for operating without a license.


outstanding !!

now If they Enforce Existing Coercion, Bribery, Extortion, and Identity Theft Laws simultaneously - it will MEAN something.


 
Marcia,

Great post and this is very interesting. I'd heard that it was afoot.

Trouble is that even with things like criminal background checks many slip through. I regular e-mails from Rich Hagar who tracks these in the Pacific NW and it is really shocking to see how many get theire MB licenese even after they were convicted of a felony. Ouch.

Now for the hard part- and this is for everyone- how would you all like a similar type of thing for appraisers? (no motive here- just musing)

Brad
 
1513587 said:
Now for the hard part- and this is for everyone- how would you all like a similar type of thing for appraisers? (no motive here- just musing)
Click to expand...

I'm in. To my knowledge I have yet to have a complaint filed yet I am already listed on the ASC, Listed in Missouri and Kansas databases, my fingerprints are on file with the FBI, I have both State and Federal Jackets, (ha ha not criminal), I have to have continuing education hours every year, may have my files pulled and audited by the either or both states at a whim, I have to keep a log of every job I do. Pay yearly license fees, yearly insurance for that license, business permits heck what more could they add?
 
Ohio now requires a background check and finger printing of people applying for appraising license or upgrade. If criminals can still slip through how effective is that?:shrug:

BTW, I fully support background checks, finger printing or a national database that tracks disciplinary actions for anyone involved in the lending industry. Anything to clean up the profession!!:)
 
zzzzzzzzzzzzzzz. Just more fees from MBs to states. Toothless as there will not be any enforcement.
 
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