The Nationwide Mortgage Licensing System went live on Jan. 2 in seven states, a news release said. The Internet-based system was initially developed in 2004 to streamline the regulatory process and create more uniformity across state lines in mortgage supervision. The registry reportedly tracks licensure, affiliations, employment history and enforcement actions against originators.
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Welcome to Mortgage-Lending-News.Com. The United States Mortgage Industry is at a crossroads. Hundreds of billions in loans and real estate valuations have been lost due to the sub-prime mortgage crisis. Even worse, billions more are at risk during the first half of 2008, as even more adjustable rate mortgages reset their rates. Hardly a day goes by that we don't hear of a foreclosure crisis in the news. Quite simply, there is too much news for us to keep up with, so we built this Mortgage site, initially as a means for us to internally follow what is going on in the mortgage industry. Now, we are sharing it with you.
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