The National Association of Mortgage Brokers wants the federal government to establish a national registry for all mortgage originators that could also provide a funding source for financial literacy programs and state enforcement of mortgage laws.NAMB opposes a registry that the Conference of State Bank Supervisors and American Association of Residential Mortgage Regulators is slated to launch in January because it only covers state-licensed mortgage lenders and brokers. NAMB executive vice president Roy DeLoach said a registry needs to cover all originators, including loan officers at federally chartered or insured banks and thrifts. The CSBS/AARMR registry does not prevent a bad actor from going from bank to bank, he said. "If you don't plug all the holes up it is really a waste of money. And it gives all the people who use it a false of security," noted Mr. DeLoach. The federal agency running the national registry could also serve as a clearinghouse for consumer complaints and direct them to the appropriate regulator. "We took the CSBS model and improved upon it," Mr. DeLoach said.

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