Mortgage loan originator licensing was created specifically in Title 5 of HERA. Title 5 is the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act. The intent of the SAFE Act was to help bring long-term stability to the lending industry by establishing uniform standards for licensing and education standards of mortgage loan originators across the country. The reason for this was to protect borrowers from unethical loan officers and/or risky loans, which contributed to the subprime crisis.
This course will focus on key components of Title 5 of HERA, the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, such as: