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

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Real Estate Agent with Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC SP98364271

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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mortgage lenders must now register in database and get finger printed

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Rainmaker
1,132,361
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 #1
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1,023,277
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 #2
Rainmaker
806,889
Lanre-"THE REAL ESTATE FARMER" Folayan
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES
Rainmaker
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Scott Hoen
TitleCapture.com - Carson City, NV
VP, Marketing Systems & Sales Tech, 714-270-9607

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 #4
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Rainmaker
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Lanre-"THE REAL ESTATE FARMER" Folayan

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