Wisconsin Mortgage Broker License Eligibility Nearing An End For Drug Dealers, Embezzlers, Extortionists, Forgers, Killers & Other Assorted Felons???

The Milwaukee Journal Sentinel reports:

• Drug dealers, embezzlers and extortionists would be among the felons banned for life from obtaining a mortgage broker's license, according to legislation introduced Tuesday by Rep. Jon Richards (D-Milwaukee). The bill, which has 11 co-sponsors in the Assembly and Senate, also would slap the lifetime prohibition on those convicted of felonies involving theft, forgery, perjury or deceit. Richards said in March that he would bring the legislation after the Journal Sentinel reported that more than 340 admitted criminals - including drug dealers, burglars, thieves and a killer - held broker's licenses last year. Brokers take loan applications - documents that contain a person's detailed financial history - and arrange mortgage loans.

For more, see Bill would ban some felons from mortgage broker licenses.