HUD Takes a Hard Line on SAFE Act Licensing Proposed Rule
July 1, 2011
If you make your living originating residential mortgages, you’re going to have to be licensed either by the state or by the Nationwide Mortgage Licensing System and Registry under the federal Secure and Fair Enforcement for Mortgage Licensing Act, otherwise known as the SAFE Act, under a new final rule from the Department of Housing and Urban Development. …
It will be the 11th issuance of its type by loanDepot.
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