Erin Attardi's Blog

Today Lyon Real Estate held its annual awards ceremony. I joined Lyon around this time last year, however I did not get the chance to attend the awards ceremony and had no idea what the shindig was all about. I knew I was going to be named as an "Executive Associate", which is based on achieving a certain production milestone. Cool enough. However, I was surprised and pleased to be awarded the Lyon Real Estate 2007 "Trooper of the Year" award for the Sierra Oaks office. One hard-working agent in each office is awarded this honor...there are about 90 agents in my office. Pretty darn cool.

The proposed "Secure and Fair Enforcement in Mortgage Licensing Act", aka SAFE, would establish national licensing standards for mortgage brokers and loan officers. In California (not sure about how other states handle lending practices), there is no current licensing requirement for loan officers. The loan officer that I normally refer my clients to, Marlena Olson, actually does have a Real Estate license issued by the California Department of Real Estate...however she is the exception to the rule...

I think this legislation is long overdue. It will ensure that all mortgage professionals are trained in legal aspects of lending, ethics, and consumer protection. In addition, I think it will separate true professionals from the folks who looked to make a quick buck in the industry.

Part of the licensing requirements will include classroom study, DOJ background check, and passing a written exam.

I like it. There are many loan officers out there that really have no clue what they are doing. To read more regarding this proposed legislation, click here.