Year after year, class after class, Ken Perry has been trying to make me smarter. Today will be yet another endeavor in a series of attempts over the last few years. I find that no matter how smart I get, there is always more to learn and Ken Perry is happy to oblige my need for mortgage related knowledge. I am not yet a junkie but I do need a quick fix now and then to stay on top of all the changes. Knowledge is indeed power.
Several years ago, continuing education was made mandatory for Loan Officers licensed by the state of Oregon. In case you are wondering, all Loan Officers must obtain at least 20 credit hours every two years with the exception of Loan Officers that work for FDIC regulated institutions, such as Banks. Much has been made of the education disparity between employees of a Bank and state licensed Loan Officers but suffice it to say that the current environment is challenging for anyone in our industry at the moment.
I’ve said it before but I think it bears repeating: a lack of rules and regulations was never the issue in our industry but rather the limited (or non-existent) enforcement of them. And it’s hard to blame the State – they don’t have sufficient resources to enforce all the violations that they come across. As a result, they are forced to crack down on the very worst violations while setting aside other instances that are not as severe or harmful to consumers. On a Federal level, the same can be said as well – enforcement of regulations was done with limited resources amidst a constantly changing landscape with enforcement being more of a “flavor of the day” variety as opposed to having a more meaningful and consistent emphasis. One of the solutions for limited enforcement resources was to give the industry an opportunity to police itself. And herein lies one of the true benefits of continued education – changing behavior on the individual level.
If you are interested in learning more about Ken Perry and his company, Broker Knowledge Group, click here