Category Archives: SAFE Act

NEW FEDERAL REGISTRY RESOURCE CENTER OPENS

Posted on April 3, 2012 by Jack Holzknecht

On April 2, 2012 the Nationwide Mortgage Licensing System & Registry opened a new Federal Registry Resource Center. Everything needed for Federal Registration is available in the new center, including all Quick Guides, instructions and reference materials that pertain to … Continue reading →

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THE CFPB INHERITS REGULATIONS G & H

Posted on January 9, 2012 by Jack Holzknecht

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) provides for the licensing and/or registration of mortgage loan originators. The SAFE Act requires mortgage loan originators to register with the Nationwide Mortgage Licensing System and Registry, … Continue reading →

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CFPB – THE INHERITED REGULATIONS – PART II

Posted on December 22, 2011 by Jack Holzknecht

On November 29th the Consumer Financial Protection Bureau (CFPB) published a notice and request for information about streamlining the inherited regulations. The “inherited regulations” include 14 existing consumer regulations that the CFPB inherited from other regulatory agencies on July 21, … Continue reading →

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CFPB – THE INHERITED REGULATIONS

Posted on December 20, 2011 by Jack Holzknecht

On November 29th the Consumer Financial Protection Bureau (CFPB) published a notice and request for information about streamlining the inherited regulations. The “inherited regulations” include 14 existing consumer regulations, including, among others, Regulation Z (Truth in Lending) and Regulation X … Continue reading →

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SAFE ACT ANNUAL RENEWAL

Posted on November 1, 2011 by Jack Holzknecht

The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) mandates the registration of mortgage loan originators (MLOs). Section .103(b)(1)(i) of the SAFE Act regulations requires MLOs to renew their registration each year during the annual renewal period. The … Continue reading →

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SAFE ACT REMINDER

Posted on July 19, 2011 by Jack Holzknecht

Every financial institution must assure that each Mortgage Loan Originator (MLO) is registered with the National Mortgage Licensing System (http://mortgage.nationwidelicensingsystem.org/fedreg/Pages/default.aspx) by July 29, 2011. For assistance in determining who is a MLO click  for the free flowchart  on Jackscomplianceresource.com.

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MORTGAGE CALL REPORTS

Posted on May 28, 2011 by Jack Holzknecht

Recently we have received several inquiries from financial institutions regarding the new Mortgage Call Reports (MCRs) required by the Nationwide Mortgage Licensing System (NMLS). A MCR is required of a company that holds a state license or registration through the … Continue reading →

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SAFE ACT UPDATE

Posted on December 20, 2010 by Jack Holzknecht

What’s the latest news on the SAFE Act? Expect to see a joint announcement before the end of the week that the National Registry will begin accepting MLO registrations on January 31, 2011. So what does this mean for you? … Continue reading →

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Final SAFE Act Regulations Published

Posted on July 29, 2010 by Jack Holzknecht

The first of two final steps for implementation of the Secure and Fair Enforcement for Mortgage Licensing Act (the SAFE Act) has been completed. The final regulations are now in place; but we are still waiting for the Registry to … Continue reading →

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Mortgage Loan Originator Registration Requirements

Posted on June 28, 2010 by Jack Holzknecht

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act) became law on July 30, 2008. It requires the licensing of all non-bank mortgage loan originators (MLOs). It also requires a national registry of all MLOs (both … Continue reading →

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