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Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) Update

OnDemand Webinar (53 minutes)

Gain a better understanding of the SAFE Acts mandates and how they have been implemented.Mandates flowing from the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) have been implemented over the past decade. This topic will review these mandates and how they have been implemented and will focus on the most recent addition to the SAFE Act created by the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCP) in 2018. The EGRRCP provides temporary authority for certain state mortgage loan originator applicants to operate while their state application is pending and will go into effect on November 24, 2019. This topic will discuss the legal authority for temporary authority, the eligibility criteria for temporary authority, and how it is planned to be implemented.


Stacey L. Valerio, Ballard Spahr LLP


Overview of SAFE Act Mandates

• MLO Licensure, Federal Registration

• Education and Testing, Criminal Background, Financial Responsibility

• State Model/Laws, Federal Rules

Implementation of SAFE Act Mandates

• CFPB Safe Act Rules

• NMLS System and Policy Developments

• Federal Rule Repeal

Recent Developments - Temporary Authority to Operate

• Federal to State, State to State

• Eligibility Criteria

• Implementation