Hard to believe that five years ago today, I became a "mortgage blogger". I really didn't expect anything to happen when I wrote my first post…I simply had to vent because I wanted to set our local media straight about the licensing of mortgage originators. Five years ago, to require a mortgage originator to be licensed, to take state regulated clock hour courses, to have to pass an exam and to have a background check was new and was only required of mortgage originators who did not work for a depository bank or credit union. So what launched my blog?
I was watching the late night news and King 5's Suzannah Frame was covering a local cause of mortgage fraud and she ended her segment saying something along the lines of "Thank goodness all mortgage originators are going to be licensed soon". Well we know this isn't true (as I mentioned above) and I literally jumped out of bed and wrote my first blog post.
Today, five years later, as amazing at may sound, this still is not true. Mortgage originators who work at depository banks or credit unions are not held to the same standards as those of us who are not employed by those types of institutions per the SAFE Act. Bank and credit union mortgage originators are only required to be "registered" which is a far cry from what is required to be "licensed". Some bank and credit union mortgage originators have opted (or may be required by their employers) to step up and be licensed instead of merely registered and I applaud this action. I think all mortgage loan originators who take a residential mortgage application should be held to same standards and should all be licensed. Consumers should not have to know what the differences are between licensed and registered mortgage originators and should be afforded the same protections regardless of who helps them with their mortgage. Ah…I digress.
I am so thankful for my readers. I had no idea what this blog would evolve to five years ago – I had no expectations. And now I cannot even imagine originating mortgages without being able to share information about mortgages! I have been so fortunate with the recognition and press I've received from my blogging efforts and even more so for the clients who have found me from Mortgage Porter.
THANK YOU, THANK YOU, THANK YOU!