In a move that’s been in the works for the past year, the state of North Carolina is making it more difficult to work in the mortgage industry. At a time when foreclosure rates have skyrocketed nationwide, these proposed changes really couldn’t have come at a better time.
One of the proposed additional requirements is that someone applying to become a loan officer must have a credit score of 600 or greater, and show no outstanding tax liens. While there remains quite a bit to be done before any of these added requirements can take effect, it does show the concern many law makers have over the high number of foreclosures.
For the complete story, visit the Charlotte Observer.
