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Arizona Mortgage originators need to be licensed

In Arizona you do not need to be Licensed to be a loan originator, anybody can hang up a shingle an say I can do loans, this has led to challenges with unscrupulous individuals taking advantage of unknowing borrowers.

The Arizona state of Representatives has passed a bill requiring just that but it is stalled in the Arizona senate.

What is this all about, why would elected state senators stop passage of a bill that can protect consumers.

Posted Sunday May 25

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