Banking Agencies Propose Registration of Mortgage Originators Employed by Federally Regulated Lenders
June 4, 2009
Federal financial institutions regulators last week moved to strengthen consumer protections with a proposed rule requiring mortgage loan originators employed by federally regulated entities to register with the Nationwide Mortgage Licensing System and Registry, a multi-state database created to keep track of unscrupulous mortgage brokers and loan originators. The proposed...