Alert February 08, 2011

Federal Banking Agencies Announce Start of Mortgage Loan Originator Registration Period Under SAFE Act

The federal banking agencies announced that federal registration of mortgage loan originators under the Secure and Fair Enforcement for Mortgage Licensing Act is now available through the Nationwide Mortgage Licensing System and Registry. The initial registration period ends July 29, 2011, at which time employees of banks and credit unions will be prohibited from originating residential mortgage loans unless they have registered. Click here for the agencies’ press release.