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LINK: Mo' Big Gov: Mortgage brokers to be fingerprinted and registered
Date: Wednesday, July 28, 2010, 1:32 PM EDT, 1:32 PM EDT from Black-bag Bobby
Barry & Co. are going to keep us all SAFE from those bad predatory lenders who inexplicably force mortgages and homes upon people.
WASHINGTON |
(Reuters) - Mortgage loan originators will have to be fingerprinted and sign up to a central registry to do business in future, according to final rules issued on Wednesday by the Federal Reserve and other regulators.
The rules are part of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also called the S.A.F.E. Act.
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