I don't need a License - I need a Badge

Mortgage and Lending with Ruoff Home Mortgage 234777

Just when I thought that mortgage lending couldn't get anymore stressful and cluttered with Freddie & Fannie guidelines, bank overlays, MI companies & the government red tape.

I just finished a whole new round of mandatory training for government compliance.

  • SAR - Suspicious Activity Report
  • AML - Anti Money Laundering
  • BSA - Bank Secrecy Act

 I now am required by law to report you to big brother if you bring me any kind of suspicious bank statements with unexplained cash flow.

  These now go along with already in place : USA Patriot Act 

 I'm thinking that I don't need a license, I need a Badge. And you just thought you could promise to pay the loan back??? It's a strange new world..


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Greg Miller   
Mortgage Loan Originator 
NMLS # 234777



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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Greg:  When are they going to understand that all the regulations, rules, and punishments in the world won't keep ALL people from illegal behavior ... or doing something just plain ol' stupid?  I understand the theory .... but then there is reality.  Just another stress placed on the lender, IMO ... and it won't accomplish much ...


Aug 11, 2012 03:09 AM #1
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Sounds like you do need a badge.  Maybe some handcuffs and a gun to go with.  You should also get a portion of your pay from the feds for the service of playing the role of Big Brother.

Aug 11, 2012 04:04 AM #2
Greg Miller
Ruoff Home Mortgage - Sarasota, FL
Florida Home Loans - Conventional,FHA,USDA,VA

 Agree Gene, you just can't legislate morality & integrity

Chris, no handcuffs & guns for me. I unnerving part is that if some corrupt criminal came in to me and tried to get a mortgage & use funds from a cash to launder money, I'm suppose to not alert them but turn them. Like that is not going to put me in jeopardy. Those are scary possibilities.

Aug 11, 2012 11:06 AM #3
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Greg Miller

Florida Home Loans - Conventional,FHA,USDA,VA
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