Your question comes at an opportune time. I'm going to give you a new acronym - as if the mortgage community needs yet another acronym!
Here it goes: "EGRRCPA."
EGRRCPA stands for the Economic Growth, Regulatory Relief, and Consumer Protection Act.
Let's keep the acronym "EGRRCPA" for the sake of this brief response.
Section 106 of the
is designed to reduce certain licensing transition barriers for mortgage loan originators who are moving from depository to nondepository institutions.
My response is necessarily limited, but we do offer the SAFE Tune-up, which is an inexpensive mini-audit that provides substantive guidance in handling SAFE compliance. Order the SAFE Tune-up HERE.
I am glad to provide a short and sweet audit checklist for general compliance with the SAFE Act, which you can use in your compliance self-assessments. Request the checklist HERE and we'll send you a copy!