NY joins mortgage broker system

New York and six other states have launched an Internet-based system
that tracks mortgage brokers, who have faced increased scrutiny since
the subprime mortgage crisis erupted last year. Thirty-five other
states have committed to join by the program by 2009. Developed by the
Conference of State Bank Supervisors and the American Association of
Residential Mortgage Regulators, the system will not apply to brokers
who work at nationally supervised banks.