Real Estate Service Directory

If Realtors® are regulated…what about the Mortgage Brokers and Loan Officers

Yesterday I was reading a post by a friend of mine in the mortgage industry entitled Wow!! Mortgage Lenders Are Really getting Tough!!

When I saw the title I really didn’t think too much into it. Then I started reading and he mentions how lenders seem to be getting tough on which mortgage brokers and loan officers they want to deal with. He mentioned how his principle Broker asked him to fill out a long detailed resume on himself and his past work and his achievements. A bit puzzled  he asked her why and she said that she was signing up with INDYMAC BANK and they wanted full resumes on all of the brokers who would do business through them. I think they should be tougher…maybe not with that process but with something similar that might make that person think before representing a product they believe in…only to find fault else where when there are problems.

Please help me out here…don’t you think there should be some broader requirements?

I not only found the article interesting…fresh and had probably never been mentioned before but I also thought it was somewhat of a good idea. From what I know about the mortgage industry and correct me if I’m wrong…”loan officers and mortgage brokers are some what limited as far as how regulated they have to be in order to operate as one.”

» Read full article on The Weston Florida Real Estate Blog-The Real Deal Tells it like it is.