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Internal Training Class - Overview SAFE ACT

CBANC Member at a Bank with $233M in assets, located in the Midwest United States contributed on April 14, 2011

We wanted to document that we offer an "overview" of the SAFE ACT registration process and train new employees on the termonology. Most important was the understanding of "licensed" and "registered"
because mortgage loan originators, who work for an insured depository or its owned or controlled subsidiary that is regulated by a federal banking agency, must be registered (not licensed).

This is an overview from a bank perspective. I have it placed on our training web site to be assigned to new employees who fall within the guidelines of MLO. There are ten questions at the end of the summary. Answers are included.

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