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Tennessee Association of Mortgage Professionals
Brian Short, CMC, CRMS, GMA
Executive Director
PO Box 111
Spring Hill, TN 37174
615-302-0001 Phone
615-296-4090 Fax

bshort@tnamp.com

Government and Legislative Updates

Governor Bredesen Signs Historic Mortgage Originator Reform Bill

TNAMB Leaders Join TN Legislators and Governor at Ceremonial Bill Signing

NASHVILLE, TN - On Thursday, June 5, 2008 Tennessee Governor Phil Bredesen signed the Mortgage Originator Reform Bill that TNAMB has been working to see become law for over 7 years. Attending this signing ceremony were Tennessee Senate and House leaders along with former TNAMB President and current Government Affairs Chair, Andy Voyles, CRMS, TNAMB President Tina Christein, TNAMB Executive Director Brian Short, CMC, CRMS and TNAMB Lobbyist Jay West.

Former TNAMB President and Government Affairs Chair Jack Sullivan, CRMS first began working with TNAMB Lobbyist Jay West to bring about this historic law in 2001 and were nearly "thrown out" of offices for suggesting the type of language in this bill which has now become law. Three Department of Financial Institutions Commissioners and one Governor later Tennessee now has a law giving the DFI Commissioner the authority to require continuing education, pre-licensure testing and criminal background checks on all mortgage originators. All Tennessee mortgage brokers will also be checked against a national registry to make sure those doing business in Tennessee are not simply "on the run" from illegal activities in other states.