Why is a mortgage specialist better than a bank? Part 2

So I started this to show the difference between a bank and a mortgage specialist. I have the unique perspective of having been a banker. So what is part 2?

QUALIFICATIONS

BANK: In all fairness, many bankers are college educated and many workers are dedicated to their customers. But the question is are they qualified? They often point to NMLS registration )Nationwide Mortgage Licensing System and Registration). Let's be clear, being NMLS registered is not the same as education. Most have their proprietary training or on-the-job (sink or swim). The banks have gotten a pass on their NMLS licensing, while they have to take the logistical background check, credit check, fingerprints, and registration, they do not have the same training as a mortgage specialist (more about that later).

I don't want to make too much of this, but I think it is worthy of note. I worked at a bank with someone who was selling paint at a hardware center one year and was selling mortgage loans the next. He spent about 6 months in a banker position in-between and was mediocre at best at that as well. So the question is, what qualifications did he have? First he learned bank products to cross-sell, then he was told to "go sell mortgages." I am not implying everyone is like this, but it does make you wonder if the person telling you what you could qualify for even knows all the options? Or at least only has their options?

MORTGAGE SPECIALIST:

With the initiation of NMLS, a mortgage specialist had to take education of 20 hours minimum and take a test to get a license. Then they have 8 hours minimum of ongoing education and re-registration every year. We learn about things like money laundering, state laws, federal laws, fair lending, and some product information. This constant reminder system helps us to stay up to date with laws, helps us to be up to date with fraud cases, and although none of us would choose it, provides the benefit of keeping us legal. What do the banks do for their personnel to even come close to this rigorous and yearly renewal?

I wanted to share a potential benefit of this training. Recently, while getting one of my 7 states' license renewed, I had to take that particular state's education on their laws and regulations. I learned something that I wasn't doing so that I could make that change in my operation. I wanted to mention this because I have been in this system doing this for 4 years, licensing in and then renewing 7 states, and I learned something new in my CE (continuing education). 

Looking forward to sharing some customer experiences and product differences in the next few...