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Home Loan Officer Registry Coming in January

Loan Officer Registry Coming in January


Bank loan officers are now required to add their names and fingerprints to a national database so it will be easier to identify unethical lenders.

Federal regulators approved these requirements Wednesday and the registry is expected to begin operating next January. Banks will have 180 days to comply.

A similar registry already exists for mortgage brokers.

Source: Associated Press, Alan Zibel (07/28/2010)

Posted Thursday Jul 29