S.A.F.E. Mortgage Licensing Act

Activity

Wisconsin Bankers Association filed 1 comment on this docket between Jul 13, 2009 and Jul 13, 2009. 1 other organizations filed here. The comment window closed 6196d ago.

What Wisconsin Bankers Association filed (1)

Abstract

The OCC, Board, FDIC, OTS, FCA, and NCUA (collectively, the Agencies) are proposing amendments to their rules to implement the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). The S.A.F.E. Act requires an employee of a bank, savings association, credit union or other depository institution and their subsidiaries regulated by a Federal banking agency or an employee of an institution regulated by the FCA (collectively, Agency-regulated institutions) who acts as a residential mortgage loan originator to register with the Nationwide Mortgage Licensing System and Registry (Registry), obtain a unique identifier, and maintain this registration. This proposal implements these requirements. It also provides that Agency-regulated institutions must require their employees who act as residential mortgage loan originators to comply with the S.A.F.E. Act's requirements to register and obtain a unique identifier and must adopt and follow written policies and procedures designed to assure compliance with these requirements.

• Wisconsin Bankers AssociationTHIS ORG

  1 filing · confidence 97%
• American Bankers Associationtrade assoc.

  1 filing · confidence 97%