The OCC issued interagency examination procedures for the Secure and Fair Enforcement for Mortgage Licensing Act. The S.A.F.E. Act prohibits individuals from engaging in the business of a residential mortgage loan originator without first obtaining federal registration as a mortgage loan originator or state license and registration as a state-licensed mortgage loan originator. The examination procedures lay out the background and requirements of the S.A.F.E. Act and Regulation G. Click here for the examination procedures.
Alert April 17, 2012