A Loan Approval from Bob?

Have you ever gotten a loan approval letter from Bob's Mortgage and Hair Cutting Emporium?  You think I am kidding, don't you.  I did make that one up, but trust me some of the companies I have run across are just as crazy.

In the last couple of years it seems like every third person thinks they are a mortgage professional.  In Hawaii to be a loan officer all you need is about $100.  That will get you a license and a set of business cards.

Today I received a copy of the Governor's e-newsletter.  She spoke this week to the mortgage brokers association and said she is pushing for licensing reform and is asking for their support and help.

She is asking for tighter licensing requirements.  Hooray!!!

I will be one to testify at the legislature if that bill gets a hearing.  I will also be speaking to my area legislator asking for her to support it.

In the past I have advocated tighter licensing for loan officers and real estate agents.  We are talking about transactions for 100s of thousands of dollars.  The public should be better protected than they are currently.

Just me 2 cents worth.