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Strong Headline! The Rocky Mountain News published this article, and I needed to comment.
The Colorado State legislature passed a law that went into effect January 1st, 2008, requiring Mortgage Brokers to become licensed by the State. While most states have required the licensure of Mortgage Brokers for some time, Colorado was a bit behind the curve.
Since the requirement went into effect (less than 90 days ago) there have been 73 people denied a license, or disciplined by the Colorado Division of Real Estate. Offenses like Criminally Negligent Homicide, Lewd & Lascivious Acts in the presence of a Child, and Burglary are some of the reasons why licenses were denied.
Just think only a year ago, these characters could have been giving you a “Good Faith Estimate” Yikes!
While the Real Estate brokerage industry has been under the watchful eye of the State for decades, I’m glad the Mortgage Broker industry is finally regulated a bit also!
This is great news for consumers, and a big “Atta Boy” goes out to the State of Colorado for protecting the public. My only question is, What took so long?
Contact the Get Home Denver Team to be hooked up with one of our Reputable Mortgage Professionals!
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[...] Al LewisnHWhile the Real Estate impact playing has been baritone the watchful organ of the State for decades, I’m entertained the Mortgage Broker playing is yet thermostated a discernment also! This is avid information for consumers, and a bounteous “Atta Boy” goes conceive to … [...]
[...] Get Real Real Estate Investing wrote an interesting post today onHere’s a quick excerpt Strong Headline! The Rocky Mountain News published this article, and I needed to comment. The Colorado State legislature passed a law that went into effect January 1st, 2008, requiring Mortgage Brokers to become licensed by the State. While most states have required the licensure of Mortgage Brokers for some time, Colorado was a bit behind the curve. Since the requirement went into effect (less than 90 days ago) there have been 73 people denied a license, or disciplined by the Colorado Div [...]