Summary: This final rule sets forth the minimum standards for the state licensing and registration of residential mortgage loan originators, requirements for operating the Nationwide Mortgage Licensing System and Registry (NMLSR), and HUD’s Federal oversight responsibilities pursuant to the Secure and Fair Enforcement Mortgage Licensing Act of 2008 (SAFE Act or Act), to ensure proper monitoring and enforcement of states’ compliance with statutory requirements.
Busy week here at NAHRO headquarters as we prepare for our 2011 Legislative Conference. If you haven't seen our 2011 Legislative and Regulatory Agenda yet, check it out.
Along with my counterparts from other community development industry groups, I attended a meeting yesterday at HUD headquarters with senior Community Planning and Development officials. I'll provide a more detailed report at a later date but wanted to provide two quick takeaways.