Gov. Bill Ritter named five members of a new mortgage- broker oversight board Thursday, including former state Rep. Rosemary Marshall, who helped draft legislation to regulate the industry in 2007.
Appointees Marshall and mortgage broker Billy Glenn Bartholomew of Arvada will serve terms through Aug. 10, 2014.
The other three appointees — mortgage-brokerage executive Julie Piepho of Fort Collins, mortgage broker Cheryl Dingwell-Keckritz of Colorado Springs and retired bank president Leslie Mitchell of Denver — will serve through Aug. 10, 2012.
The board appointments mark a shift from a model that once tasked a single director with overseeing the industry to a model where a panel is responsible for licensing and discipline.
Plans for the new board were nearly derailed after the state’s former real-estate regulator, Erin Toll, announced nonexistent investigations into a state senator and his company and some brokers alleged abuses of power.
Lawmakers were reluctant to craft new regulations in the wake of the controversy, though they eventually approved the power shift.
The panel will license brokers and register mortgage companies as well as enforce state license laws, investigate complaints and discipline offenders.
Jessica Fender, The Denver Post
