I don't need a License - I need a Badge

By
Mortgage and Lending with Ruoff Home Mortgage 234777

Just when I thought that mortgage lending couldn't get anymore stressful and cluttered with Freddie & Fannie guidelines, bank overlays, MI companies & the government red tape.

I just finished a whole new round of mandatory training for government compliance.

  • SAR - Suspicious Activity Report
  • AML - Anti Money Laundering
  • BSA - Bank Secrecy Act

 I now am required by law to report you to big brother if you bring me any kind of suspicious bank statements with unexplained cash flow.

  These now go along with already in place : USA Patriot Act 

 I'm thinking that I don't need a license, I need a Badge. And you just thought you could promise to pay the loan back??? It's a strange new world..

 

Posted by

************************************************************************************************

 click to apply online

 Secure online application for all of Indiana


Greg Miller   
Mortgage Loan Originator 
NMLS # 234777
www.Ruoff.com
gregm@ruoff.com
574-268-9033


close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Groups:
"Whacked"!!!
Bartender, Make it a Double
The Lounge at Active Rain
BananaTude
Almost Anything Goes
Tags:
antimoney laundering

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the cloud to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the leaf to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
692,500
Gene Mundt
www.genemundt.com - 708.921.6331 - New Lenox, IL
Chicagoland Mortgage Lender - 37 yrs experience

Greg:  When are they going to understand that all the regulations, rules, and punishments in the world won't keep ALL people from illegal behavior ... or doing something just plain ol' stupid?  I understand the theory .... but then there is reality.  Just another stress placed on the lender, IMO ... and it won't accomplish much ...

Gene

Aug 11, 2012 10:09 AM #1
Ambassador
1,929,132
Chris Ann Cleland
Long & Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

Sounds like you do need a badge.  Maybe some handcuffs and a gun to go with.  You should also get a portion of your pay from the feds for the service of playing the role of Big Brother.

Aug 11, 2012 11:04 AM #2
Rainmaker
139,330
Greg Miller
Ruoff Home Mortgage - Warsaw, IN
Warsaw Ind. Home Loans - Conventional,FHA,USDA,VA

 Agree Gene, you just can't legislate morality & integrity

Chris, no handcuffs & guns for me. I unnerving part is that if some corrupt criminal came in to me and tried to get a mortgage & use funds from a cash to launder money, I'm suppose to not alert them but turn them. Like that is not going to put me in jeopardy. Those are scary possibilities.

Aug 11, 2012 06:06 PM #3
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
139,330

Greg Miller

Warsaw Ind. Home Loans - Conventional,FHA,USDA,VA
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information