FR–5271–P–01 SAFE Mortgage Licensing Act: HUD Responsibilities Under the SAFE Act

Docket ID: HUD-2009-0155
Agency: Department of Housing and Urban Development (HUD)
FR–5271–P–01 The Secure and Fair Enforcement Mortgage Licensing Act of 2008 (SAFE Act or Act) was enacted into law on July 30, 2008, as part of the Housing and Economic Recovery Act of 2008. This new law directs States to adopt licensing and registration requirements for loan originators that meet the minimum standards specified in the SAFE Act, in lieu of HUD establishing and maintaining a licensing system for loan originators. This new law also encourages the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) to establish a nationwide mortgage licensing system and registry (NMLSR) for the residential mortgage industry for the purpose of providing: uniform Statelicensing application and reporting requirements for residential mortgage loan originators, and a comprehensive database to find and track mortgage loan originators licensed by the States and mortgage loan originators that work for federally regulated banks. Loan originators who are employees of federally regulated depository institutions and their subsidiaries are required to register through the NMLSR, but are not subject to State licensing requirements.
RIN: Not Assigned
Docket Details open glossary dialog  
Related RINs: None
Related Dockets: None
Type: Rulemaking

Primary Documents

View All  (3)
Comment Period Closed
Proposed Rule
Posted: 02/17/2010
ID: HUD-2009-0155-0155
Comments Not Accepted
Proposed Rule
Posted: 12/15/2009
ID: HUD-2009-0155-0001

Supporting Documents

No documents available.


View All  (4,905)

Comments Received*
*This count refers to the total comment/submissions received on this docket, as of 11:59 PM yesterday. Note: Agencies review all submissions, however some agencies may choose to redact, or withhold, certain submissions (or portions thereof) such as those containing private or proprietary information, inappropriate language, or duplicate/near duplicate examples of a mass-mail campaign. This can result in discrepancies between this count and those displayed when conducting searches on the Public Submission document type. For specific information about an agency’s public submission policy, refer to its website or the Federal Register document.