The Real Deal Miami

Governor bars criminals from mortgage biz

August 13, 2008 11:37AM

Gov. Charlie Crist and his cabinet voted to prohibited convicts who committed
financial crimes from entering the mortgage business after it was
revealed that thousands of criminals evaded lax licensing standards and
contributed to an epidemic of mortgage fraud. The unanimous vote will
impose a 15-year waiting period before anyone convicted of a violent
crime, including murder, rape and armed robbery can get into the
mortgage business. People convicted of misdemeanors involving fraud,
dishonest dealing or “moral turpitude” will have to wait five years
from their conviction dates before they can get licensed.