New MLO rules

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This topic has 1 reply, 2 voices, and was last updated 12 years, 3 months ago by jholzknecht.

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March 26, 2013 at 7:53 pm EDT #2607

Anonymous
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If we have MLOs who are registered under the S.A.F.E. Act but we don’t have a credit report for them, will we have to pull one now? Or does their registration under the S.A.F.E. Act cover everything?
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April 10, 2013 at 9:13 pm EDT #3134

jholzknecht
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The new Truth in Lending rules require a credit report for anyone becoming a loan originator on or after the January 2014 effective date of the rule.
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