Can our designated SAFE officer be an active loan officer that is currently producing loans?
Answer: Generally, the SAFE Act Officer is the person responsible for the SAFE Act registration of the staff. The SAFE Act regulation does not allow the person that registers employees to be an MLO unless the institution has less than 10 employees. Part 1007.103 Registration of mortgage loan originators (e) Required covered financial institution information.
B Prepared for Compliance in Commercial Lending
It’s common for many lenders to believe that commercial lending is exempt from federal compliance regulations. However, this would be untrue – commercial loans are subject to the following compliance regulations: Regulation C/HMDA, Flood Disaster Protection Act, and Regulation B/ECOA. This article will focus on only one the regulations above – Regulation B. Under this
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