The federal bank, thrift and credit union regulatory agencies, along with the Farm Credit Administration, have announced that the Nationwide Mortgage Licensing System and Registry (NMLS) have begun accepting federal registrations. Under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) and the agencies' final rules, residential mortgage loan originators (MLOs) employed by banks, savings associations, credit unions, or Farm Credit System institutions must register with the registry, obtain a unique identifier from the registry, and maintain their registrations.<Click to continue
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