Due to a wonderful weekend shared with and old friend and his family, I was unable to blog earlier regarding the new Mortgage Licensing bill that was passed by lawmakers early on Thursday morning. Cahtherine Reagor, our local Real Estate writer for the AZ Republic posted this blog regarding the new bill: http://www.azcentral.com/members/Blog/CatherineReagor/26714
In addition to that I received a blog from a local Realtor, Steve Belt, posting information and his thoughts with regards to the new bill and potential licensing requirements for originators.
Lastly, today is the last day for Countrywide to be known as Countrywide. Mike Mueller, aka "The Mortgage Man." has a video excerpt regarding his thoughts on Countrywide. I agree with his thoughts about B of A probably not doing as good of a job as CW had in the past. Only time will tell.
As far as I am concerned. The licensing laws are necessary. The more difficult it is to be able to "do" a job, then typically there will be less people working the job who are not qualified. It takes determination and dedication to make it through a doctoral residency, physical therapy school, teacher certifications, etc. and the more hard work it takes to learn a professional the more credibility it will be given.
I believe licensing will bring more credibility to the profession and will hopefully continue to "clean-up" the mortgage industry.