S.A.F.E. Mortgage Licensing Act of 2008
Effective July 21, 2011, the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) has been transferred to the Consumer Financial Protection Bureau (CFPB) for administration and enforcement. You can submit a SAFE Act inquiry to the CFPB by e-mailing to CFPB_SAFEAct_Inquiries@cfpb.gov. If you are a consumer or mortgage loan originator with questions regarding the SAFE Act and state licensing requirements, you should contact the mortgage regulatory agency in your state.
If you are a state regulator, you may contact Ann Shearer (202) 435-7392 or Ann.Shearer@cfpb.gov) or Allison Brown (202) 435-7107 or Allison.Brown@cfpb.gov).
The SAFE Mortgage Licensing Act is designed to enhance consumer protection and reduce fraud by encouraging states to establish minimum standards for the licensing and registration of state-licensed mortgage loan originators and for the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) to establish and maintain a nationwide mortgage licensing system and registry for the residential mortgage industry. The SAFE Act sets a minimum standard for licensing and registering mortgage loan originators. Specific state licensing requirements can be found at the Nationwide Mortgage Licensing System Registry (NMLSR). Mortgage loan originators employed by a federally regulated depository or a regulated subsidiary can learn the registration requirements on the NMLSR website or from their employer's federal bank regulator.