Key Components of The Safe Act Compliance Course

This 33-minute course is designed to equip mortgage loan originators (MLOs) with a thorough understanding of the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, as established in Title 5 of the Housing and Economic Recovery Act (HERA). Participants will learn the essential components of the SAFE Act, including the uniform standards for licensing and education that have been implemented to ensure the integrity and stability of the lending industry. By examining the intent behind the SAFE Act—to protect borrowers from unethical practices and risky loans—MLOs will gain insight into their role in promoting ethical lending practices. Upon completion of this course, participants will be better prepared to comply with the SAFE Act and contribute to a more secure and fair mortgage industry. This course will cover the following:

• Increased training requirements to originate loans;
• A uniform licensing exam;
• The development of a centralized database called the Nationwide Mortgage Licensing System & Registry (NMLSR);