Why Doesn't Arizona License Loan Officers?

With the mortgage debacle which has gone on over recent months, there is an attempt again being make by legislators to license mortgage originators and loan officers in Arizona.  The current bill  would require mortgage originators to take a test, take continuing education and be accountable to regulators.  This bill has come up before but always gets stalled and goes nowhere.

I, for one, cannot understand  why loan officers are not held accountable!  Real estate agents, mortgage brokers and appraisers are all regulated and held accountable for their actions.  Here we are with a record number of foreclosures and mortgages "gone bad" and those who originated these loans basically have taken their commission " money and have run."

If the State is to crack down on the record number of bad lenders who have been caught committing fraud and taking advantage of consumers with bad loans,  the legislation this time needs must be passed