National Meeting Held For Licensing Mortgage Officers

Loan officer issues were the talk of the day when government officials met with NARLO as the meeting wore on for most of the last week of June. The increase in mortgage fraud, along with varying regulations for licensing, was on the top of the discussion list. The industry hopes that the combined intervention of the Board and the government will lead to a regulation of testing, background checks and licensing.

Stricter standards for licensing and practicing were thought to be a step forward, along with programs that will educate the public regarding mortgages and mortgage fraud. The increase of mortgage fraud in the past five years is a nuisance and headache for local and national government alike, as well as tarnishing the reputation of valid mortgage professionals. Through dual efforts from within the mortgage profession and government assistance, a new set of code may be presented to any mortgage broker who would like to practice in the US.