12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 — Scope of this subpart

safe-12cfr-1008-301

12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB), §1008.301 Scope of this subpart. Captured section-complete (all subsections verbatim).

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Verbatim regulatory text (11)

Verbatim provisions from 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 — Scope of this subpart — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

12 CFR §1008.301

This subpart establishes minimum requirements that apply to administration of the NMLSR by the Conference of State Bank Supervisors or by the Bureau. The NMLSR must accomplish the following objectives:

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(a)

(a) Provide uniform license applications and reporting requirements for state-licensed loan originators.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(b)

(b) Provide a comprehensive licensing and supervisory database.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(c)

(c) Aggregate and improve the flow of information to and between regulators.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(d)

(d) Provide increased accountability and tracking of loan originators.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(e)

(e) Streamline the licensing process and reduce the regulatory burden.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(f)

(f) Enhance consumer protections and support anti-fraud measures.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(g)

(g) Provide consumers with easily accessible information, offered at no charge, utilizing electronic media, including the Internet, regarding the employment history of, and publicly adjudicated disciplinary and enforcement actions against, loan originators.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(h)

(h) Establish a means by which residential mortgage loan originators would, to the greatest extent possible, be required to act in the best interests of the consumer.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(i)

(i) Facilitate responsible behavior in the mortgage marketplace and provide comprehensive training and examination requirements related to mortgage lending.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

12 CFR §1008.301(j)

(j) Facilitate the collection and disbursement of consumer complaints on behalf of state and Federal mortgage regulators.

Source: 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.301 · source URL · snapshot 8be7db7ff328d57d

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