Finally Arizona is presenting legislature to require mortgage officers to become licensed!!! Now isn't that a concept? It was recently reported that we, in Arizona, have an estimated 18,000 unlicensed people taking mortgage applications, negotiating rates and getting loan commissions statewide. At one point in time, one of the buyers I was working with insisted on using a specific lender. As I was talking to him about my buyer, I realized that he was locked into ONE type of loan - only. That was his specialty and he wasn't going to offer anything else to the buyer. This lender was a "friend" of the buyer's parents, so they were determined to use him - in spite of his not knowing enough to offer any other time of financing option.
I, for one, am voting for this legislature to pass. Too many complaints and unhappy consumers this past year or two.
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