KnowYourPro

Thanks to Jen commenting on my last blog post, I now have my next blog post. Continuing my compliance theme, today I'm talking about licensing and how it came about in MA. Starting in the early 2000's, our state association was pushing for Loan Officer Lincensing. One year it came real close to moving on, as the bill was filed and it went to comittee. There was a lobby to oppose it, and that lobby was lead by the banks. Why would the banks not want non-bank Loan Officers to get licened? Take your guess in the comments. I'll check back in between shoveling snow to see if anyone has the correct answer.

So last week in my quest to be completely licensed we went to go get finger printed. Its a wacky system the National Mortg Lic System uses. You pay through them, you schedule an appointment, you show up, and then call the Finger Print company to check that they received your prints. My appointment was at a UPS store in Boston about 1/2 drive from the office. When I got there, the workers said the person that is trained on the system was not in and was not going to be in. So I called the finger print company and told them the situation. I don't think they were happy. I wasn't, as I took time out of my day. About 15 minutes later, they called me back and told me to go back to the UPS store. I guess the workers were magically trained by telephone. So the prints are done and the last item is the national test.

PS- the licensing system is now available for consumers to check their Loan Officers:

http://www.nmlsconsumeraccess.org/Home.aspx/MainSearch

Note: If you are working with a LO from a bank, that LO may not require to be licensed through the NMLS system.