Is your Mortgage and Real Estate Professional licensed?
Wednesday, February 28th, 2007
Now we are both licensed. My wife, the “loan originator” and I, the “real estate salesperson.” You can check for yourself at the Washington Department of Licensing Query System. You can search for all kinds of licensed professionals, from architects to cosmetologists, and appraisers to embalmers and appraisers to real estate brokers and salespersons (agents).
If you are looking for my wife you need to head over to the Washington State Department of Financial Institutions (DFI) and check the Licensee Database. Among the kind of subjects you can search are Investment Companies, Escrow Officers, Mortgage Brokers, and now also Loan Originators.
The photo montage above shows the online search results for her and me (excluding the photos). She now works for Choice Lending in Bellevue.
It’s hard to believe but until January 1, 2007 loan originators did not have to be licensed in the State of Washington. Given the tremendous responsibility that comes with advising someone on financing residential property, I think this change is for the better. Some cynics may disagree. “The state’s just seeing this as a way to collect more fees,” or “a licensed crook is still a crook” are some of the arguments.
I was told at a recent real estate workshop that some loan originators did not line up to be fingerprinted for the license because they would not pass the criminal background check. Let’s hope the change to a licensed status keeps the worst out of the business. Let’s hope that mortgage fraud will decrease proportionately.
Obviously, having shared a certain kind of license for 30 years, I could have told you that Frances Ann is honest, competent, patient, superb at explaining things, detail-oriented, always courteous and charming, but you may have pointed out that I was biased. Yes, I am. But I am also right. Just ask her. I am always right.
This blog has been updated February 7, 2008.
