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Registration Requirement
Beginning of article
Mortgage Originator Licensing Law Entails State Action
In the past few months we have witnessed an unprecedented amount of legislation and regulation that changes the way the U.S. financial system operates and is supervised. The "Secure and Fair Enforcement for Mortgage Licensing Act of 2008," or the SAFE Act, is a critical, though often overlooked, measure approved by Congress that will significantly strengthen state supervision of the mortgage industry.
Passed under the Housing and Economic Recovery Act, the SAFE Act requires all residential mortgage loan originators to be licensed or registered through the Nationwide Mortgage Licensing System and Registry …
