Borrowers Betrayed: Thousands with criminal records work unlicensed as loan originators

Miami Herald by Matthew Haggman, Rob Barry, Jack Dolan | Jul. 22, 2008 (News Report)

More than half the mortgage professionals registered in Florida -- 120,563 -- entered the industry this decade without being licensed by the state, The Miami Herald found. Known as loan originators, they perform the same job as mortgage brokers but aren't bound by the same rules. Full Story »

Posted by Melva Hackney

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by Jim Caruso - Oct. 1, 2008

This story is truly disturbing. The bigger picture is how the lack of oversight diligence, and public interest on the part of legislators, at all levels of government, enable war, financial turbulence, and fraud.