Times are so interesting right now! I wouldn't think minimum standards for licensing however as we have that standard already for real estate licensing....

Hi Steve ~~ I'm glad they are instituting standards to require and regulate licensing for mortgage professionals.  Heck, many of them were not much of the professionals.  I sure hope the standards will be more than "minimum" so that the professionals can be really professional.

Here's my penny. 

Steve--Lots of interesting programs out there now...Let's hope some of them work to take the edge off the market!

Susie!

I wouldn't think minimum standards would be anything anyone minded, after what has happened.

Blog on!

Steve

Marzena,

The push for minimum standards for mortgage brokers is going to weed out some people, and cause others to reconsider why and what they are doing.

I think this will only benefit all of us.

Steve

Teri,

...It stands to reason that if yo can make a 30 year mortgage work, you can keep someone in their home with 50 year mortgage. I know it is a bit more complicated, but time is always on the side of the homeowner-and Realtor!

Steve

Obeoman- I think that this is quite ironic that these CW guys go and start a company to counteract what CW is totally inept at doing. I do not have any faith that these guys will be any better because they are just going to hire $8 an hour clerks to do the work that just don't care. I find it quite a anti trust issue! ALL that has to happen is for CW to learn how to do their own short sales!!!!!! 

The government intervening????? Not the answer! Allow the market to adjust itself. Free enterprise must take it's course. I don't want my tax dollars going to save people who got caught in the hot market flipping properties and now cry foul! Katerina 

I agree with Nestor and Katerina - I don't think we all "taxpayers" should be saving investors and banks that already made profits.... with that said, I don't trust "PennyMac" - that's all I have to say.

Katerina,

Then we should use our voice here at AR to make the interests of the community known. We are not one voice; but there is probably a way to find out where the like minded people are.

I lean your way; but ultimately I belive in the the marketplace; the consumer will decide.

We can influence them.

Steve

April!

Let your vocie be heard, and shout so others can hear you.

I hear you - blog it!

Steve

I agree with you Steve.  We can influence, but the market will ultimately decide the fate of those who are having trouble.

Erby,

Common sense: a small tool for big change!

Steve

We need to be involved a state and national levels to watch legislation and pursue licensing appropriately.  Our industry benefitted greatly when Wisconsin Realtors Association worked with state government on licensing of home inspectors.

The mortgage industry is a bigger challenge, and it needs to be addressed.

Laurie,

It looks like this is the last corner of real esate that has little or no regulation - and it's about the money!

The proposed Mortgage Orginiation Commission will probaby offer some guidance for regulation at the state level.

Steve