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camb: Panel of Experts- DRE, FRE - 10/19/07 11:21 AM
Yesterday I attended a California Association of Mortgage Brokers Panel of Experts meeting. On the panel were: Sergio Barajas, Expanding Markets Manager, Freddie MacLouisa Broudy, Deputy Commisioner, Financial Services Division, Dept of CorporationsTed Grose, Director and CAMB advisorTim Le Bas, Deputy Commisioner, Dept of CorporationsGary Sibner, DRESandra Smith, HUDThey addressed what is currently being done to protect future borrowers and to help current troubled borrowers: They talked about California's new law SB385 and how it creates more laws regarding disclosure. They want to make sure borrowers understand the loans they are getting. Also discussed was the push to require mortgage brokers to be licensed.
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