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New MLO rules

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

    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
    Keymaster

    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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