Avoid identity theft fight breaks out in Florida as mortgage professionals fight to keep their credit reports out of public records!
My friend Monica called me the other day, upset about a proposed law affecting mortgage professionals in Florida.
On the surface, I didn’t think Monica had her facts straight…as the proposed law seemed to expose mortgage professionals with identity theft.
On the Florida Association of Mortgage Brokers’ website, I discovered the following language…and it appears Monica was correct.
Why would Florida’s politicians (appear to) propose such a dangerous, unnecessary law? Oops, my bad.
I should know better…politicians are not known for presenting LOGICAL legislation.
Why are Florida’s mortgage brokers so upset?
What does being a new loan originator in Florida have to do with identity theft?
If you’re not a Florida mortgage broker and you’re not ever going to get hit with ID theft, why should you care?
Great questions.
You should care and here’s why.
Click READ MORE below to discover how your credit (good or bad) might become PUBLIC record!
Florida’s lawmakers (apparently) want to make (your) credit reports PUBLIC record….
…if you want to become a mortgage broker in Florida, that is.
Did you know… starting on October 1, 2010, as a requirement to obtain the new Florida loan originator license, your credit report must be pulled in order to determine financial character?
What…to determine “financial character?
“…Did you know… your credit report will be considered a state record and available for public viewing unless a public records exemption bill is passed in the 2010 legislative session AND signed by Governor Charlie Crist into law?” source: www.famb.com
As you would expect, the Association of Florida Mortgage Brokers is furious and have launched a campaign to fight this absurdity:
“HELP FAMB PROTECT YOUR PRIVACY AND KEEP YOUR CREDIT REPORT FROM BEING EXPOSED TO IDENTITY THEFT!”
Don’t sit back while only a few fight for the rights of thousands of mortgage professionals who may be exposed to identity theft!
I spent a few minutes searching for an answer as to why Florida’s politicians would propose such legislation. There must be some sort of meaning behind their madness, right?
Well, I couldn’t find logic in this….
If you are not a mortgage broker in Florida, you can dismiss this concern as some other person’s fight.
Yep, I can see that.
However, the greater implication affecting ANYONE with less than perfect credit (and that means 88-112 MILLION Americans) is the importance put on credit scores and credit reports.
- Do you think your employer cares about your credit scores?
- Do you think your credit scores reflect your financial responsibility or IRRESPONSIBILITY?
- Do you know it doesn’t matter what you and I think about this topic? The fact is, more and more employers are pulling your credit before hiring or promoting you.
What they see may or may not be good for you.
Rightfully so, Monica is upset. At the least, she is not a new mortgage originator so she appears to be okay--as this proposed legislation (if passed) will exclude her credit reports from becoming public record.
Yet, the greater implication is the impact of credit scores on our lives….
Why do Florida’s politicians think the public is better served by having access to a Florida mortgage broker’s credit reports? Clearly, I MUST be missing some really important piece of this puzzle. Nobody in his or her right mind would believe it’s possible to deduce “financial character” from a credit report.
Florida mortgage brokers (apparently) NEED to unify…stand up for themselves…& avoid identity theft. Unless I’m missing something important about this legislature’s proposal (and I very well could be missing something here), this absurd law makes no sense.
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