The Fine Prints

Mpj041016200001Last Friday, I received a letter from DFI stating that my finger prints that were taken back in late November, were not readable for the FBI and Washington State Patrol background checks now required for Licensed Loan Originators (mortgage originators who do not work for banks or credit unions).   And…even though they’ve had the my prints for five months, I had 10 days to submit a new ones!

First thing on Monday morning, I drove to the credit reporting agency who originally performed the task to get a "do over".   An hour later, I wound up with one "electronic" set and two old fashioned "inked" sets.   Apparently I have very fine prints on my pads.

Hopefully these sets will work out for the FBI and WASP!   

What I learned is that even if your LO is licensed in Washington State, the background check may not be done.   Obviously, my fingerprint check is not and I do hold a license…DFI must be absolutely swamped!

The required test to retain a Washington State Loan Originator License will be available to take starting June 5, 2007 and will cost $52 and will consist of 100 questions.   Loan Originators have until December 31, 2007 to pass the test. 

In my estimation, the heads of unsavory loan originators have not began to roll yet (unless they have all ready fled to companies that are not required to be licensed).   The first phase would be the background checks (as I’m experiencing now) and the next big step is to actually pass the test so one can keep her license she’s had since the beginning of the year! 

I will continue to keep you posted of my licensing progress.

Comments

  1. They need to have a scanner where you can put your entire hand on the little box and submit it from there. Kind of like in those Men in Black movies. You know you have to put your hand on the little box to open the door, etc.

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