The Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corporation were among six federal agencies to issue a joint statement Monday requesting public comment for proposed rules requiring mortgage originators at federally regulated entities to meet the registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. S.A.F.E. requires originators to be registered with a unique identifier from the Nationwide Mortgage Licensing System and Registry and furnish background information and fingerprints for a background check. The proposed rule provides for a delay in implementation of the registration requirements until 180 days after the Registry becomes operational and available.
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Bank Originators to Participate in National Registry
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