The Miami Herald has complete a thorough and frightening investigation into rampant mortgage fraud taking place in Florida. They found that over 1000 convicted felons obtained a loan originator license, even after submitting background checks to the state in order to receive their license. 

The Herald has a full website devoted to their investigation located here.

What’s the solution to the Florida problem? 
Do you see other systemic problems in other states?

What about the ability for a loan originator to escape licensing by working for a different type of institution that does not screen for felony convictions?

Do you believe the National Mortgage Licensing System coming our way in 2009 will reduce the problem of mortgage fraud, make it better, or no change? Why?