New Albany Mortgage News: New Housing Bill in congress – nationwide registration of loan originators?

Congress is looking likely to pass through one of the most radical housing bills into law this month and looking at a detail which has not been as well publicized as many people think.

The new bill is aimed at giving the consumer more protection and of course professionalizing the industry.

One provision which is does make in the bill is for a nationwide system of registration for mortgage loan originators – to be an originator you may be a bank loan officer, a mortgage broker or even in some cases a real estate broker who helps a lender fund a transaction.

This potential new ruling of course has been welcomed by many who want to see a better framework of guidelines for mortgage professionals. It is thought that the new system will of course keep out unlicensed, unqualified rogue mortgage originators from scamming clients.

Of course with the market being slower than the previous boom years many people are taking the opportunity to take stock and reorganize a few things, in fact with prices so good and mortgage rates being so attractive many people who are fed up with poor stock market performance are considering investing in real estate!

If you are looking to purchase a home in New Albany Ohio or the surrounding metro Columbus communities contact the Raines Group for professional Real Estate advice in the area.