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continuing education: Originator registration and education - Housing Bill establishes national loan officer registry - 07/28/08 12:41 AM
Another feature of the Housing Bill is establishing a national registration for mortgage loan originators. Tennessee has required licensing for originators for the last couple years, and is now in the process of implementing continuing education requirements.
According to the housing bill summary, this legislations "establishes a nationwide loan originator licensing and registration system that will set minimum standards for loan originator licensing substantially improving the oversight of mortgage brokers and bank loan officers."
It will be interesting to see how this registration system works and how much the national licensing will cost. Also, it will be interesting to see what the … (0 comments)

continuing education: TN Mortgage Originator Reform Act signed last week - 06/08/08 12:34 PM
Last week, Governor Phil Bredesen signed into law the new Mortgage Originator Reform bill. This legislation mandates continuing education for all persons who originate mortgage loans in the state. It is really the second step taken to enhancing professionalism in mortgage industry in Tennessee.
Prior to the institution of originator registration, three years ago, there were only minimal requirements to become a mortgage professional. The requirements primarily were to post a bond.There were no educational requirements.
State licensing has helped, but I think that the education requirement is an even bigger step.
It still remains to be seen how the new … (5 comments)

 
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Richard Smith FHA VA Rural Development in TN GA

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