The SAFE Act – Exactly How Does the Registration Process Work?


Presented by: Carl Pry

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We've all heard quite a lot about the SAFE Act, and maybe you've taken a shot at identifying your Mortgage Loan Originators, or MLOs. Now you're ready to register them and your institution with the Nationwide Mortgage Licensing System and Registry, or NMLSR. But how does that work? Exactly what steps must we take, and where do we even go to do that?

Once the registration is complete, a unique identifier is then assigned to each MLO employee. In addition to talking in depth about the registration process, we'll answer some additional questions: Who exactly is an MLO? What types of job functions and duties trigger the responsibility to register?

This webinar will seek to answer all your questions about the registration process, so you can get your institution and all proper employees registered.

Covered Topics:
  • The MLO registration process - how it works, and what to do: the registration website, helpful documentation, and step-by-step guides
  • Information that employees and your institution must provide
  • Fingerprints, background checks, and VeriSign information - what to do with that information
  • Where must this MLO identifier appear? Pretty much everywhere, as we'll see
  • What are the Dodd-Frank Act's impacts on the SAFE Act?
  • Identifying exactly who is considered a Mortgage Loan Originator
  • What types of job functions and duties qualify a person as an MLO? What functions would not?
  • What does it mean to "take a residential mortgage loan application," or to "offer or negotiate terms of a loan"?
  • We'll talk about specific functions and examples.
Who Should Attend:
Anyone in your institution that might qualify as an MLO, which includes basically anyone that deals with mortgage loans for starters. Each institution has its lending employees do different things, so it will be useful to hear the factors that may or may not qualify someone as an MLO.

Also, credit and product management, compliance officers, counsel, and human resources (since this will typically be the department to manage this process) will greatly benefit from this information.

About the Speaker: Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Vice President and Compliance Manager for a large financial institution in Ohio. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

This program was recorded in its entirety in May 2011. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_safe0511
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Tuesday 12 April, 2011.

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