The Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires banks and mortgage lenders to ensure that every loan originator is registered in the Nationwide Mortgage Licensing System & Registry (NMLS), while states continue to require that all originators are properly licensed and authorized to lend. GSEs require compliant loan originator NMLS IDs on every loan application, and secondary market investors reject loans that don’t comply with the requirements.
License Manager simplifies SAFE Act Compliance with:
Pass/Fail status for originators, at a glance
Current NMLS status, updated daily
Originator, company, license and authorization checks
One-click, real-time audits
Quick batch audits of all of your originators
Detailed, easily exportable originator status reports