The purpose of this policy and procedure guide is to ensure compliance with the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) by providing the framework and guidance to increase accountability and tracking of mortgage loan originators, enhanced consumer protections, and anti-fraud measures.
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires mortgage loan originators (MLOs) to be licensed or registered prior to engaging in lending activity.
The AllRegs® SAFE Act Policy and Procedure Guide addresses the following topics:
- Registered MLOs
- State-Licensed MLOs
- Temporary authority
- Maintaining registration
- Submission of information to the Registry
- Use of unique identifier
- Record retention
- Best practices
The guide features the following benefits:
- Supports strong operational practices and preparedness
- Explains roles and responsibilities
- Explains what to expect and how to work with auditors
- Provides practical guidance for managing the audit process from within
- Features an audit tracking spreadsheet as an optional tool
Maintenance: Receive regular and ongoing industry updates to keep your guide within regulatory requirements.
Publishing: Publish your guide, including your company procedures, in AllRegs Online.
Contact your account manager for information regarding these optional services!