Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
SAFE Act Changes Passed by Senate
WASHINGTON (12/19/13)--The SAFE Act Confidentiality and Privilege Enhancement Act (S. 947) was passed by the U.S. Senate this week, and will now move on to the House for consideration.

Under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), employees of financial institutions, or their subsidiaries that act as residential loan originators, are required to register with the Nationwide Mortgage Licensing System and Registry.

The bill would amend the SAFE Act to grant all state and federal financial regulatory officials access to NMLS and Registry information without jeopardizing privilege or confidentiality provided under federal and state law.

Currently, only state and federal regulators with mortgage oversight authority are allowed access to the NMLS and Registry data.


RSS print
News Now LiveWire
In just over a year, @SaveToWinWA generates more than $1M of savings in 6 #creditunions http://t.co/rszMd0SZVv
8 hours ago
Even the pest guy is a cybersecurity risk: http://t.co/Tqq4qfOgcq
9 hours ago
.@SCTelco_FCU among best places to work in S.C. via @TheCCUL http://t.co/PJnjOArfm8
10 hours ago
#IceBucketChallenge in D.C. today: @HampelBill with help from some @CUNA staff http://t.co/3iOqE2KSjd
11 hours ago
P2P mobile payments draw millennials' interest via @BloombergNews http://t.co/uoO2anjCsV
13 hours ago