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Cumbest reviews tenure as chair of ARELLO Mortgage Advisory Committee.

Publication: Mississippi Business Journal
Publication Date: 28-JAN-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Cumbest reviews tenure as chair of ARELLO Mortgage Advisory Committee.(Focus: Banking & Finance)

Article Excerpt
Mark Cumbest, broker/owner of Cumbest Realty in Pascagoula, has had a front row seat to view the developing subprime mortgage collapse in the U.S. Cumbest, who is chairman of Mississippi Real Estate Commission, was 2007 national chairman of the Mortgage Advisory Committee for the Association of Real Estate License Law Officials (ARELLO).

ARELLO is an organization made up of real estate commissioners from across the U.S. and Canada. Real estate commissions are a regulatory body that enforces real estate license laws of states and provinces. Real estate commissions handle the licensing of real estate agents, brokers and sales persons. They offer educational courses, and they monitor continuing education requirements.

"We hold hearings for people who make complaints about real estate licensees," Cumbest said. "We are involved in the regulation of real estate licensees. Anytime a complaint is filed, an investigation is made. If it goes to a heating we hear the cases and rule accordingly."

When Cumbest was asked to chair the ARELLO Mortgage Advisory Committee starting in January of 2007, problems with the subprime mortgage market were barely a tipple on the...

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