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Mortgage brokers to be fingerprinted and registered

http://news.yahoo.com

WASHINGTON (Reuters) – Mortgage loan originators will have to be fingerprinted and sign up to a central registry to do business in future, according to final rules issued on Wednesday by the Federal Reserve and other regulators.

The rules are part of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also called the S.A.F.E. Act.

They were issued by the Fed, Comptroller of the Currency, Federal Deposit Insurance Corp, Office of Thrift Supervision, Farm Credit Administration and National Credit Union Administration.

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masshole's picture
Created by masshole 3 years 37 weeks ago – Made popular 3 years 37 weeks ago
Category: Regulation   Tags:

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