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Mortgage Lenders now must register in Database and get finger-printed.

By Lanre-"THE REAL ESTATE FARMER" Folayan

Real Estate Agent with Samson Properties SP98364271

July 28, 2010 01:29 PM

Mortgage Lenders must register in Database. While searching online,I ran across this story about Mortgage Lenders must register in Database. The new requirements were mandated by a bill passed by Congress two years ago but Federal bank regulators approved them on Wednesday. Doing this they feel will crack down on the shady mortgage brokers and lenders who many people feel contributed to this whole mortgage mess that we are trying to get out of.

So what do you feel about this? Would this work? Is this going a little bit too far? Please reply with your comments. I definitely want to know what anyone in the Mortgage Industry feel about this. Click on this link to read the story Mortgage lenders must register in database

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Claude Cross

Homes By Cross, Inc. - Charlotte, NC

Charlotte NC Homes For Sale

I worked in the banking industry 30 years ago and we had to get fingerprinted as part of the hiring process. I like that DNA is available.

Jul 28, 2010 02:09 PM

Margaret Woda

Long & Foster Real Estate, Inc. - Crofton, MD

Maryland Real Estate & Military Relocation

'Can't imagine it will matter in the slightest, that it will do anything to "fix" the bad lenders out there. In the meantime, most of the industry (in my experience, anyway) is made up of professionals with integrity.

Jul 28, 2010 06:12 PM

Lanre-"THE REAL ESTATE FARMER" Folayan

Samson Properties - Bowie, MD

I don't make promises.I deliver results.SOLD HOMES

Claude Cross-Charlotte NC Real Estate(Homes By Cross, Inc.)-Interesting. Do feel your background in banking has helped you get more clients and close more deals? Thanks for your comments Claude. Have a great weekend.

Margaret Woda, Maryland Real Estate & Military Relocation Services (Long & Foster Real Estate, Inc., Crofton, MD)-I thought so too. I thought that it was just me. Thanks for your comments Margaret. Have a great weekend. Great post.

Jul 31, 2010 01:56 PM

Scott Hoen

Carson City, NV

Carson City Clerk Recorder / Public Administrator

As a result of SB133 on January 9, 2009 -- Title Insurance Sales Professionals in California also have to be licensed and fingerprinted -- a sign of the times to better control the behavior of Sales Professionals. Those reps that are professional -- have nothing to worry about.

Aug 15, 2010 09:14 AM

Mortgage Lenders now must register in Database and get finger-printed.

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Lanre-"THE REAL ESTATE FARMER" Folayan

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