The S.A.F.E. Act – Secure and Fair Enforcement for Mortgage Licensing Act explains the purpose of the S.A.F.E. Act and the core elements of the “mortgage loan originator” position. The student will acquire a working knowledge of what activities define a mortgage loan originator, the registration requirements, and the use of the MLO unique identifier.
NOTE: This course is written specifically for the purpose of training front-line Mortgage Loan Originators (MLOs) who are employed by financial institutions covered by the provisions of the S.A.F.E. Act. It does not cover the specific requirements for MLOs who must be state licensed and registered.
Bank compliance managers or those administering the MLO registration process will need additional details not covered in this course. In addition, the course does not discuss the de minimis exception on the assumption that employees of those banks whose mortgage activities are too small to be subject to the S.A.F.E. Act, will not view this course.