LO Personal Engagement Holds Highest Customer Satisfaction Score
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Financial Protection Bureau (CFPB) has issued an Interpretive Rule for one type
of loan originator licensing. The Secure and Fair Enforcement for Mortgage
Licensing Act (SAFE ACT) of 2008 established a national system for licensing
and registration of loan originators which envisioned two categories of
licensing, one for originators working for state-licensed mortgage companies
and those working for federally regulated financial institutions. Subsequently,
Regulation Z which interprets the Truth in Lending Act (TILA), established a
third category of originators, those with temporary origination authority.
These rules apply to individuals who were previously registered or licensed,
are employed by a state-licensed mortgage company, are applying for a new state
loan originator license, and meet other criteria specified in the statute.
Marijuana Killing Real Estate Deals
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