Secure and Fair Enforcement Act           

The federal S.A.F.E Act which regulates the requirements for mortgage loan originators is requiring individual residential mortgage loan originators be registered. 

Each individual will have a unique identifier, which will remain with them regardless of changes in employment.  This registration which will be controlled by ‘The Nationwide Mortgage Licensing and Registry’ will give consumers the ability to check employment and other background information, before utilizing services.                                                   

This act is aimed at loan originators working at national and state banks, savings associations, farm credit institutions, and credit unions.

The final rules of S.A.F.E  took effect October 1, 2010. and will start accepting federal registrations as early as January 28, 2011. 

Final Rule