Description
Following the collapse of the U.S. housing market and the resulting financial crisis, Congress sought to create solutions for ensuring a similar crisis would not happen again. The focus of the resulting regulations was on reducing the level of fraud in the mortgage lending process, and on increasing the level of consumer protection to guard against further industry-wide violations. This course explains how the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act establishes a licensing and registration system for residential mortgage loan originators (MLOs) that includes education, testing, and background checks to ensure that person’s suitability to provide this service.
