Monthly Archives: May 2010

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5 05, 2010

SAFE Mortgage Licensing Act

May 5th, 2010|Loan Originator Licensing, Mortgage Licensing News, NMLS|

The SAFE Mortgage Licensing Act (Title V of P.L. 110-289, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008) was signed into law in July 2008. It requires every loan originator taking a residential mortgage loan application from a consumer to obtain a mortgage loan originator (MLO) license from the State Agency in [...]

4 05, 2010

California DRE now requires Mortgage Loan Originator Endorsement through NMLS

May 4th, 2010|Loan Originator Licensing, Mortgage Licensing News|

California Department of Real Estate now requires Salespersons and Brokers to obtain an endorsement to their license through the NMLS if they want to use their license to originate residential mortgage loans. By January 31, 2010, or within 30 days of commencing the activity whichever is later, all licensees must report to the Department of [...]

4 05, 2010

Washington Adds Servicing Licensing Through NMLSR

May 4th, 2010|Mortgage Licensing News, Mortgage Servicer Licensing|

Washington Mortgage Loan Services must obtain a consumer license by July 1, 2010. The state of Washington added additional requirements of servicer licensing and reporting responsibilities under the Consumer Loan Act and clarification of loan modification services regulated by the Department of Financial Institutions under both the Consumer Loan Act and the Mortgage Broker Practices [...]