Buying a House? Fingerprints Required

“The legislation would require thousands of individuals working even tangentially in the mortgage and real estate industries — and not suspected of anything — to send their prints to the feds. The database and fingerprint mandates were tucked into housing and foreclosure assistance bills that on Tuesday passed the Senate Banking Committee by a vote of 19-2.

The measure the committee passed states that “an indvidual may not engage in the business of a loan originator without first … obtaining a unique identifier.” To obtain this “identifier,” an individual is required to “furnish” to the newly created Nationwide Mortgage Licensing System and Registry “information concerning the applicant’s identity, including fingerprints for submission” to the FBI and other government agencies.”

When you read the first paragraph it sounds like only agents and mortgage lenders need to submit fingerprints-which would be bad enough. Reading the second paragraph we see that it says any individual or applicant has to submit prints before filling out the application for a loan.

That means you, I and anyone else who wants to buy a house will have to submit fingerprints before filling out loans.

In other words, the government is building another big database this time of fingerprints.

Why?

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