The SAFE Act – the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) is the federal law that was enacted due to the real estate and mortgage crash of 2007-2008. For a lot of committed and expert loan officers who’ve made the mortgage business their careers it’s a long time coming to finally have some national mortgage licensing and tracking system. There will now be a standard for expertise that elevates loan officers to a status similar those other professionals who are needed for real estate transactions which do require licensing and professional credentials like: real estate agents, lawyers, title agencies, insurance agents, and home appraisers.
The purpose of the SAFE Act is to:
- Provide improved accountability and tracking of loan originators
- Enhance consumer protections and support anti-fraud measures
- Provide consumers with free information regarding a loan originator’s work history and public disciplinary and enforcement actions
- Establish a means by which residential home loan officers would be required to act in the best interests of the consumer
- Facilitate the collection and disbursement of consumer complaints
- Provide uniform license applications and reporting requirements for state licensed-loan originators
Due to this Act, all residential loan officers must be state-licensed or federally registered.
Smart Financial Credit Union has complied with the Safe Act and have registered our Mortgage Services Team.
Smart Financial Credit Union
NMLS ID: 456807
Mortgage Service Team:
NMLS ID: 291882
NMLS ID: 291888
NMLS ID: 1148254
NMLS ID: 697536
NMLS ID: 298941
Sr. Loan Processor
NMLS ID: 901718
NMLS ID: 904218
NMLS ID: 330358
NMLS ID: 40453
Members may access www.nmlsconsumeraccess.org for more information about our Mortgage Service Team.
Ask Smart Financial
Give us a call
Or toll-free at: