For now it is called the "The Secure and Fair Enforcement in Mortgage Licensing (SAFE) Act," and for now it will target lenders and predator lenders "protecting" citizens from these people.

This act will require many things, however here is the line:

"• Would require that all residential mortgage loan brokers and lenders obtain a state license, and provide fingerprints, a summary of work experience, and consent for a background check to authorities." - US Senator Mel Martinez http://martinez.senate.gov/public/index.cfm?FuseAction=NewsReleases.View&ContentRecord_id=e61dcff7-69bd-4aed-99b7-53d4b8579b72&IsTextOnly=False

Republican Mel Martinez and Diane Feinstein were sponsors, and Obama is a co-sponsor of this bill.

All residential loan brokers and lenders will need to PROVIDE FINGERPRINTS. What? Why would there need to be the creation of fingerprints, held in federal records, for this? With all the other backup it has and all the other requirements, why fingerprints? Seems unusual. And, once lenders get this you know Realtors like myself are next, then who? Title Insurance agents? Appraisers? Home Inspectors?

Like every federal mandate this will be the catalyst to something far bigger than its original intention. Though, I would not doubt that the intentions of the sponsors of this bill were far greater in the first place.

This will steamroll into a national federal database, I have no doubts about it should it get through. However, they knew this was iffy at the time and passed it right before the Memorial Day Recess. It has gone unnoticed until now. And, will likely get very little attention.

However, like everything else the Federal Government has done, that has started very small, minimally intrusive, will break open, increase in size and intrusiveness.

Is this the CHANGE we can look forward to?

SAFE, interesting name, isn't it? The Federal Government will keep you SAFE, once they have all fingerprints, right?

Mel Martinez and Diane Feinstein were sponsors, and Obama.
3 Names not to trust at having the best interest of America at heart.

To the top. This is very important stuff. It is a process to widespread federal fingerprinting that is going through the backdoor as a feel good bill, passed by a committee right before a recess.

Oh yeah, see this sets a precident and then the next thing you know...

Pretty much. And, many people will argue hard how this new act protects homebuyers and those needing to borrow money. But, everything in that act is ALREADY being done. The training, testing, and all that stuff by the state level. The only thing in there different is the federal inclusion (which if you are licensed in one state you can't practice in another state anyways unless you get licensed there!!!), which will INCLUDE federal fingerprinting.

The federal fingerprinting is the only NEW thing to this act and that is why it makes it stand out to me, because I know what is going on. However, it will go right over the heads of most, it feels good, it will pass, and there we go, the ball has been pushed down the side of the hill and it will keep on rolling.

You gotta love the governments urge for more biometrics...

I think I need more foil for my hat.

The FBI haqs had My fingerprints since I Inlisted in 1969. Do you have something to hide. Should I think Twice about buying a house from you or anyone that wont pass a secutrity check.


Afterall I am comitting myself for thirty years of debt.

And, what exactly will the fingerprinting do? All the other stuff associated with this Act are already applied to all licensed lenders and such throughout the country.

How exactly will a fingerprint do anything?

Oh, they got my fingerprint after I've taken the test and been licensed so now I better not do something wrong?

It's ridiculous. Fingerprinting the innocent.

now keep in mind, I am all for a national database to a certain degree. It will help keep illegal aliens out, and it would also help round up degenerate parents who are running from their child support orders.

But I do have to agree, fingerprinting a person so that they can loan others money? I don't think so. If you are working inside an institution and have physical access to cash, yes then I could see the fingerprinting (if nothing else rule you out as a suspect when the place gets robbed), like in a bank and having access to the vault.

I will be reposting an old post I made about requiring dna at birth, watch for it and let me know what you think.

With the report of crooked dealings in financing for home loans, don't you think there needs to be some kind of checks.

Yes, but how exactly does fingerprinting the vast majority of innocent lenders and such to have the fingerprints of a few future 'possible' crooks do a bit of good? It's a ridiculous notion to think that because the feds have your fingerprint it will prevent criminal behavior.

I bought a house in Las Vegas, 5 years later when I tried to sell I found out when my loan went through the title was sent to mexico, to the former owner. I had to file suit to get it cleared up. The realitor, and the title company blamed each other. Those people shouldn't be allowed to handle anything involving other peoples property or money.
The people that ended up with bad mortgages because of crooked paperwork could have had some protection. Or do innocent people write bogus contracts.

Exactly!

And don't mortgage lenders have access to the same credit databases as other business people who want to make sure a customer is a good credit risk?