Arizona gets Mortgage Broker License Legislation
Good news for Arizona Mortgage Customers…now the loan officer that you speak with regarding your mortgage loan will be required to be a licensed professional.
It was the mortgage broker industry, not the banks or mortgage bankers that fought the good fight for this important piece of consumer legislation.
However this legislation only seems to apply to Mortgage Brokerage Houses, not FDIC insured or federally chartered institutions. This is the only article of value I could find on the Mortgage License Legislation, as the legislation was just signed into law yesterday.
You should know that I work with several trusted professionals in the mortgage industry and that you should call me if you are considering refinancing or moving. I’ll make sure you get a great loan officer.
Your REALTOR (R)
Rob
(1 votes, average: 4 out of 5)
Loading ...
Here’s a suggestion for a synopsis of the legislation from NAR: http://www.realtor.org/gapublic.nsf/pages/hr_3221_key_provisions
I listen to talk radio and KTAR is saying that even though interest rates are still falling, people with ARMS rates can spike month by month…yet find it hard to refinance. Why?
Thanks
Rich