Happy Sixth Birthday to The Mortgage Porter

Six years ago today, I published my first post for this blog, The Mortgage Porter. I’m often asked what triggered me to start writing my mortgage blog. I remember the moment as if it were yesterday. Mortgage licensing had just become a requirement for mortgage originators IF they didn’t work for depository bank or credit union. A local evening news reporter was covering a local case of mortgage fraud and ended her story with something along the lines of “thank goodness all mortgage originators will be licensed effective 2007”. If you’re in mortgage lending, you know this isn’t true.

When the SAFE Act was passed, Congress, in all their wisdom, excluded loan originators who work for big banks and credit unions from being licensed; they are only required to be registered (there’s a big difference between licensed and registered requirements).  LO’s who work for banks will often insist that they were already being regulated. One just needs to remember how well those regulators did at regulating Washington Mutual, Countrywide and World Savings, just to name a few. 

Six years later, and I’m still waiting to see all the day when all residential mortgage originators, regardless of the type of institution they work for, are held to the exact same standards. 

My blog has continued to allow me to share important information about mortgage ever-changing mortgage guidelines, to vent every so often about things I’d like to see changed and perhaps share a personal bit on a weekend. Thanks to all for reading and subscribing to The Mortgage Porter.

Happy 6th Birthday!

Yep…that’s really me in the photo, celebrating my sixth birthday!

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