For years, Peoples Mortgage, Inc has advocated the for the licensing of loan officers at state and national levels. In July of 2008, the Safe and Fair Enforcement Mortgage Licensing Act was signed into place. This SAFE Act set forth procedures, requirements and standards for mandatory registration and state licensing of mortgage loan originators.
One of these requirements is that every loan officer complete 20 hours of SAFE training and pass a national and state test. While the industry is seeing a pass rate of only 68%, we proud to say that the pass rate at Peoples Mortgage is 100%.
In addition, of those who have passed this exam the average score has been 81%. Our loan officers are way over the national norm, posting a very impressive 92%!
Our industry has been reduced to a handful of loan products. Therefore, the ONLY thing that now differentiates mortgage companies and banks is the service they extend to their customers. An educated staff should be the foundation of a companies commitment to service. At Peoples Mortgage, we are proud to say we can claim such.