Description

This course explains the purpose of the SAFE Act, which is to ensure that mortgage loan originators are reputable and have not been subject to disciplinary actions. It describes who is covered and must register with the Nationwide Multistate Licensing System and Registry. It discusses other requirements of the SAFE Act, including when mortgage loan originators must disclose their unique identifier and bank responsibilities, and related loan originator provisions of Regulation Z (Truth in Lending Act).

What You’ll Learn

After completing this course, students will be able to:

Explain the purpose of the S.A.F.E. Act and who is covered
Describe the Nationwide Mortgage Licensing System and Registry requirements related to initial registration, annual registration renewals, and registration updates
Explain other requirements of the S.A.F.E Act including when MLOs must disclose their unique identifier and bank responsibilities and related provisions under Regulation Z (Truth in Lending Act)