Well, I find illustrative the following Commentary on the Model State Law by HUD:

The SAFE Act is designed to enhance consumer protection and reduce fraud by encouraging states to establish minimum standards for the licensing and registration of state-licensed mortgage loan originators and for the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) to establish and maintain a nationwide mortgage licensing system and registry for the residential mortgage industry for the purpose of achieving the following objectives:

(1) Providing uniform license applications and reporting requirements for state licensed-loan originators;

(2) Providing a comprehensive licensing and supervisory database;

(3) Aggregating and improving the flow of information to and between regulators;

(4) Providing increased accountability and tracking of loan originators;

(5) Streamlining the licensing process and reducing regulatory burden;

(6) Enhancing consumer protections and supporting anti-fraud measures;

(7) Providing consumers with easily accessible information, offered at no charge, utilizing electronic media, including the Internet, regarding the employment history of, and publicly adjudicated disciplinary and enforcement actions against, loan originators;

(8) Establishing a means by which residential mortgage loan originators would, to the greatest extent possible, be required to act in the best interests of the consumer;

(9) Facilitating responsible behavior in the subprime mortgage market place and providing comprehensive training and examination requirements related to subprime mortgage lending;

(10) Facilitating the collection and disbursement of consumer complaints on behalf of state mortgage regulators.

The new standards, as well as the uniformity and consistency of such standards, directed to be established nationwide by the SAFE Act present a significant step in the effort to increase integrity in the residential mortgage loan market, enhance consumer protections, and reduce fraud. (Emphasis added)

Endquote from HUD

All but one of those objectives (#9) would apply with equal force to real estate agents, who are also licensed by each State as mortgage originators used to be.  Uniform licensing requirements?  Isn't this something even some in the industry has been clamoring for?  Establishing a means by which residential brokers would, to the greatest extent possible, be required to act in the best interests of the consumer?  Isn't that the point of fiduciary duty of the realtor?  Providing increased accountability and tracking of real estate brokers?  Seems to me the argument applies with equal force.

licensing - a huge part of the "Raise the Bar" (or #RTB) movement wants higher standards, tougher requirements, more education, and so on.  Dale Stinton himself has suggested that the industry needs to raise the bar for what it means to be a real estate licensee.

Given the sentiment of some consumers about their realtors, arguing against "greater accountability" for real estate agents strikes me as a difficult hill to climb in any event."

Of course, NAR (the National Association of Realtors) may decide that a Federal licensing scheme and a registration database is a step too far, and wield its considerable political power to oppose such a thing.  But is this a battle NAR would even choose to fight?

After all, a number of people within the industry has been asking for higher standards on real estate[.]