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#1800108 - 04/01/13 06:39 PM character, fitness, and criminal background
Compli(cated) Offline
100 Club
Joined: Mar 2011
Posts: 185
Wisconsin
I see that now, even though we are not required to license our MLOs, we will have to ensure that they "meet character, fitness, and criminal background standards similar to existing SAFE Act licensing standards."

Can anyone point to where I can find the standards?

Thank you!
Last edited by Compli(cated); 04/01/13 06:53 PM.
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S.A.F.E. Act Forum
#1800305 - 04/02/13 12:36 PM Re: character, fitness, and criminal background Compli(cated)
Sonja Kriegsmann
Unregistered

These new requirements can be found in the CFPB Final Rule covering Loan Originator Compensation Requirements under the Truth in Lending Act that become effective January 10, 2014. They are included in the changes to section 1026.36.

The new requirements are indicated in red text in Alphabet Soup at this link: http://www.bankersonline.com/regs/12-1026/12-1026-036.html

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#1800342 - 04/02/13 01:33 PM Re: character, fitness, and criminal background Compli(cated)
Compli(cated) Offline
100 Club
Joined: Mar 2011
Posts: 185
Wisconsin
Thank you Sonja!
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"I was gratified to be able to answer promptly. I said I don't know." - Mark Twain

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