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Linknet-Columns.com features articles and weekly syndicated columns in specific areas of interest such as Marketing, Travel, Health, Business Opportunities, Product Features, Golf. Advertise with Linknet. Get links and create a powerful online presence. Hawaii Legislation Cracking Down on Mortgage BrokersFeb 27, 2006 - Linknet Finance News Hawaii Legislation Cracking Down on Mortgage Brokers Feb 27, 2006 - Linknet Finance News - Proposed legislation in the Hawaii State Senate is trying to tighten up the rules for mortgage brokers.== Get Commercial Real Estate Financing without using banks == With the real estate boom of the last few years the number of brokers has more than doubled to more than 5,000 in the state. Many of these are sales agents who solicit business on behalf of brokers. The proposed legislation would require brokers and mortgage solicitors to be tested and would hold brokers responsible for the conduct of their solicitors and loan originators. It would require home mortgage brokers to pass a test to get their license, continue their education and pay for audits of their records. The bill also would increase to ,000, from ,000, the bond required for mortgage brokers to operate. Brokers are opposed to the legislation, saying legislators are going after a problem that doesn't exist. But legislators are concerned about commission sales people preying on borrowers with little regard for their ability to properly qualify for home loans. A recent case involving Ameriquest found that the company was using deceptive and high-pressure tactics to sell mortgages. Ameriquest agreed to pay $ 325 million nationwide to settle. That included 3,000 residents of Hawaii. == Mortgage Training - Make money in real estate as a mortgage loan officer ==
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