Finally, loan officers will also be required to be licensed in the State of Arizona! That has been a long time coming with many failures. I'm wondering if being licensed would have been a deterrent to the recent mortgage fraud or just a way to make sure the l/o's are educated. I've known of individuals deciding to be a loan officer and just signing up - without any type of education or knowledge. Check out the article in this morning's paper!!!
I know that licensing won't probably ensure a good loan officer anymore than it does for a Realtor, but I'm glad that something is being done to change the system.
Recently, because of the "Buy and Bail" schemes, Arizona has been active in seeking out and penalizing those who ae participating in this fraudulent course of action.
How are other states dealing with this? Licensed, not? What are some of the thoughts of the loan officers here on Active Rain?
Mesa, Arizona Real Estate. Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit one of my websites: HomesAzRE.com, MoveToMesaAz.com or MoveToSunnyAz.com. Or stop by my blogs at: MesaAzRealEstateVoice; or Phoenix Valley Real Estate Blog