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Sep12
Bill for Mortgage Brokers
Taffy Wagner September 12, 2006
Know More: Current News, Mortgage Brokers, Mortgage Fraud, Mortgages 2.0, Mortgages
I would be remiss if I did not share this other assembly bill with you that was passed also in California. It appears to me that they are trying to clean the house in the area of real estate and mortgage before it gets out of hand. Maybe they are setting an example for other states to follow. We have read stories about mortgage fraud, foreclosures and people being banned from ever practicing in states. In my opinion this is partly because there was no regulation in these fields. Assembly bill 2890 was signed last week in California by Governor Arnold Schwarzenegger. This bill gives regulators the right to suspend the licenses of brokers who mislead the public about the experience in the industry. Kudos to California for adding more protection.

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