However, that may be changing in some states. 7 states: Idaho, Iowa, Kentucky, Massachusetts, Nebraska, New York and Rhode Island have launched a standardized and mandatory process to more thoroughly license and track mortgage brokers.
"While mortgage regulations vary dramatically from one state to another, the new system creates a uniform application for mortgage brokers and a database that banking regulators, and eventually consumers, can use to track down brokers who try to work in one state after being banned from another. Consumers should have access by next year." - MSNBCThis may be a trend we see on a more national basis to help protect consumers.
