The Mortgage Educator
The Secure and Fair Enforcement for Mortgage Licensing Act seems to be keeping at least two education providers busy. One educational offering provides a good dose of mortgage compliance training.

An 8-hour continuing education course was released by Hondros Learning last month.

The Mortgage Loan Originator Refresher meets SAFE act requirements and is available to mortgage pre-licensing students for exam preparation, according to the Columbus, Ohio-based firm.
read full story

Bank SAFE Deadline in Limbo
Exactly when banks will be required to comply with registration requirements under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 or which regulator will initially oversee the process is not clear.

Banks Face Less Competition as Brokers Exit
In Indiana, the number of licensed mortgage brokers has fallen by nearly three quarters during the past five years. The decline was precipitated by falling home values and rising regulations. Banks appear to be the beneficiaries of the fallout.

Cease & Desist Orders Issued Against MA LOs
Cease-and-desist orders have been issued against dozens of mortgage loan originators in Massachusetts.

Thousands of NY LOs Can't Originate
Originations have been idled for thousands of loan officers in New York while they attempt to meet education and testing requirements. A state deadline looms for the group.

Review of Final SAFE Rule
The federal banking agencies including the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the Farm Credit Administration, and the National Credit Union Administration jointly issued their final rule regarding the registration requirements for mortgage loan originators of financial institutions and certain affiliates of those institutions.

Non-Bank Originators On SAFE Mortgage operators in California see good and bad to the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

SAFE Rules Vary between Fed & State
Under new rules announced last week, federal regulators have a single set of standards for originators at the institutions they oversee. State-regulated originators are subject to different criteria. But originators regulated by both state and federal agencies are being required to participate in a national registry.

WA Implements Licensing Requirements
Washington State has implemented new licensing requirements for loan originators and granted more than 2,000 licenses over the past few months under the new standards.

SAFE Issues Addressed
State delays in implementing the Secure And Fair Enforcement for Mortgage Licensing Act as well as who is covered by the act have been addressed by the U.S. Department of Housing and Urban Development.