Tuesday, March 9, 2010

These Guys are in Charge of My Ethics???

Debbie and I recently took the national licensing test required by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). The National Mortgage Licensing System (NMLS) is the organization that administers the test. One of the sections covers ethics. If the NMLS decides we are unethical, we don’t get to sell loans. Fair enough.

Another function of the NMLS is to conduct criminal background checks. Applicants pay $39 and are directed to have their fingerprints taken by Fieldprint, the exclusive fingerprint vendor of the NMLS.

Debbie paid her $39 and had her fingerprints taken last week. She was notified by the NMLS yesterday that Fieldprint had sent them fingerprints that the FBI could not read.

Ready for the solution? She must now pay an additional $39 and go back to Fieldprint to have them try again. If they botch it a second time, then the FBI will do the background check without even using fingerprints. There will be NO refunds.

I asked a manager at NMLS if this was a common occurrence. She said "we are reviewing the system."

Can you say “SCAM”?

These are the guys who get to decide if we’re ethical enough to sell mortgages?

PS Debbie scored 100% on the ethics section of the test. Maybe they should consult her during their review of the "system".

1 comment:

Royce Klemm said...

Chris, thanks for the interesting article. I can assure you they would have had a difficult act in persuading me to do my fingerprints with them. Show me the law that says we have to do that! I always go to the FBI office on the Federal Center at Kipling and 6th Ave, and send anyone who needs a recommendation for getting their fingerprints done.
Haven't had a reject from anyone I've sent as yet. I remember I had my fingerprints done by a person attending a meeting when we needed license renewal fingerpirnts. He wanted me to do a second one in the event the first one didn't pass, but he was keeping the 2nd copy. Don't think so. So I took both of them and shredded them for fear it wouldn't pass so that is when I found the Fed. Center.