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by CareyBot

State mortgage industry regulators are working to create a national repository streamlining the licensing application process that would also show enforcement actions against lending industry insiders. "The point of the repository is to simplify the state licensing process among state mortgage regulators," said Bill Matthews, senior vice president of the mortgage project at the Conference of State Bank Supervisors. His group is spearheading the project along with the American Association of Residential Mortgage Regulators. The database is expected to include disciplinary actions and license revocations imposed on industry workers including mortgage brokers, finance company loan officers and appraisers. Such information is already available on individual states' Web sites, but will be cons...