safe act: Loan Officers Need an Education
- 02/16/10 11:15 AM
We all know that the lending industry is going through major changes. The Federal government has stepped up and determined that states either have minimum licensing laws or create them for mortgage brokers. If they don't, the Feds will step in for them. This is known as the SAFE Mortgage License ACT. The SAFE Act does several things as far as tightening up mortgage brokers and their interaction with the public. In Hawaii this badly needed proposed licensing requirement for mortgage brokers includes education, testing and continuing education. These requirements are already in place for real estate and insurance agents. It … (59 comments)
We all know that the lending industry is going through major changes. The Federal government has stepped up and determined that states either have minimum licensing laws or create them for mortgage brokers. If they don't, the Feds will step in for them. This is known as the SAFE Mortgage License ACT.
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