Posted by lindab on 8/8/08 8:41am
Msg #259264

Indiana Brokers lose licenses

Here is a link to a list of all of the brokers that have failed to renew their licenses to due the new law. The law raised the standards by which a broker may practice. They must have 3 years of experience and pass a state exam and have back ground checks.
www.in.gov/sos

A real eye opener.

Reply by MW/VA on 8/8/08 9:44am
Msg #259267

It says the list is loan brokers who have had their licenses revoked. I have heard that part of the mortgage mess cleanup is focusing on loan brokers/lo's, who will now be required to be licensed through the various states & have bgc. This will probably do a lot of clean up the industry, since it appears that many loans were underwritten that never should have been in the first place. I would like to hear Paul Williamson's input on this.