Finally Arizona is presenting legislature to require mortgage officers to become licensed!!! Now isn't that a concept? It was recently reported that we, in Arizona, have an estimated 18,000 unlicensed people taking mortgage applications, negotiating rates and getting loan commissions statewide. At one point in time, one of the buyers I was working with insisted on using a specific lender. As I was talking to him about my buyer, I realized that he was locked into ONE type of loan - only. That was his specialty and he wasn't going to offer anything else to the buyer. This lender was a "friend" of the buyer's parents, so they were determined to use him - in spite of his not knowing enough to offer any other time of financing option.
I, for one, am voting for this legislature to pass. Too many complaints and unhappy consumers this past year or two.
Post a comment
Temporarily disabled — coming soon!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved
Teri,
I wanted to come back to your very first post, and here I am, sort of late to the party, but the first to comment.
This legislation has yet to pass, and the need for it grows with each passing day. See you on the 20th in Scottsdale!
Mike in Tucson
HI Mike: ;-)
I know, I was hoping that it would pass...but alas, no luck - yet!!! Really important in my opinion. Thanks for stopping by - and I won't be in town that week....see you at the next one I hope. ;-)
I had fewer comments back then. No one knew me yet. ;-)
Their loss!