also some ugly stories about mortgage brokers and bankers mortgage loan officers in recent years suggests industrial problems, the Arizona Association of Mortgage Brokers had to walk through the legislation for licensing of individual loan officers in Arizona. (Only companies licensed now.) For all the finger shows that since the loan during the ongoing problems that AAMB was needed to achieve a political end run to Arizona Senate Banking Committee chair, believes the law was too much regulation and too high a bar for entry.

In recent years, we have tough opposition from the Association of Arizona mortgage lenders. (formerly known as "Mortgage Bankers Association). They believe that they should not be forced to obtain a license for its loan officers, because they are" too well educated, etc. "" As late as last year I had the feeling She had secretly against the rules even after the name on the carpet from our new Superintendent of Financial Institutions, not to support the efforts AAMB. This year there were damn few bankers is left to argue. FDIC insured and federally chartered institutions remain free. Arizona does not license or monitored.

Superintendent Felecia Rotellini DFI is a brilliant lawyer with experience in the prosecution of financial crimes at the Attorney General's Office. Honest lenders respect and support her and the crooks have learned to their fear, as it should be. There is a new "sheriff" in town and we want their willingness to cooperate with us to this industry as something more than a job.

By helping the AAMB 28 years ago, we think this law has proved to be his best effort. It has 10 years, until a law that is sorely needed. As employers, we have suffered for years with companies not willing to tell us that they fired a loan officer for fraud, theft or fraud. So that the "bad apples" "never leave the business. You just went from one company to another. Now is the potential hire will either have a license, education and background checks or they will not be allowed to work. Individual loans author begins to bear personal responsibility for their actions, even if their employer remains ultimately responsible for their actions. Arizona home buyers and owners should have a much higher level of confidence in dealing with mortgage loan originator in the future.

It was the mortgage broker industry, not the banks or mortgage bankers that fought the good fight for this important part of consumer law. Studies have shown that it is less expensive, for a loan through a mortgage broker than any other type of lender and now it will be safer, too.

This is our personal view of the legislation and its players and not the official views of the Arizona Association of Mortgage Brokers. Even with the new law to come into force in January 2010, you can never be wrong by a company with good reputation and long in the lending community.

Jon Laird is co-owner of Sterling Mortgage Corporation, one of the oldest licensed Arizona mortgage broker firms. Sterling Mortgage Corporation has specialized in the manufacturing housing loans for more than 24 years. Jon has more than 33 years of experience in home lending and is a certified training instructor. He frequently teaches classes manufactured home financing for real estate agents renewing their licenses. To find out more from Jon visit: http://www.sterlingmortgageloans.com