Notice of Joint Final Rule: Registration of Residential Mortgage Loan Originators

Details

• Publisher's site:
  https://www.fdic.gov/
• Corporate Authors:
  Federal Deposit Insurance Corporation (FDIC)
• Description:
  The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the Farm Credit Administration, and the National Credit Union Administration published in the Federal Register the attached joint final rule implementing the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) on July 28, 2010. The rule takes effect on October 1, 2010, and institutions will be expected to implement appropriate policies, procedures and management systems to ensure compliance. Applicable mortgage loan originators (MLOs) must register with the Nationwide Mortgage Licensing System and Registry (NMLSR) within 180 days of the date the NMLSR can begin accepting registrations, which could be as soon as January 28, 2011. The FDIC will provide advance notice of the exact date.
• Subject:
  Consumer Protection
• Dataset Download URL:
  https://www.fdic.gov/news/financial-institution-letters/2010/fil10043.html
• Format:
  PDF
• Release Date:
  07/30/2010
• Update Date:
  11/26/2018
• Withdrawn Date:
  12/01/2018
• Agencies Involved:
  Federal Deposit Insurance Corporation (FDIC) ; Office of the Comptroller of the Currency (OCC) ; Board of Governors of the Federal Reserve System (The Fed) ; Office of Thrift Supervision (OTS) ; National Credit Union Administration (NCUA) ; Farm Credit Administration
• Fdic Employee Involved:
  Thomas F. Lyons ; Victoria Pawelski
• Law Involved:
  Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act)
• Related Regulation:
  12 CFR Part 365
• Source:
  FDIC Website
• Memorandum To:
  FDIC-Supervised Banks (Commercial and Savings)
• Effective Date:
  10/01/2010
• FIL Number:
  FIL-43-2010
• Main Document Checksum:
  urn:sha256:b29e26a412c5ebe8ba775f683112ed4f5940112eb61fec64943a4b4bce48c110
• Download URL:
  https://archive.fdic.gov/view/fdic/7170/fdic_7170_DS1.pdf
• File Type:
  [PDF - 825.29 KB ]