View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML
HUD/OH RIN: 2502-AI70 Publication ID: Fall 2010 
Title: Safe Mortgage Licensing Act: Implementation of HUD Responsibilities (FR-5271) 
Abstract: The Secure and Fair Enforcement Mortgage Licensing Act of 2008 (SAFE Act) was enacted as part of the Housing and Economic Recovery Act of 2008. The SAFE Act directs States to adopt licensing and registration requirements for loan originators that meet the minimum standards specified in the SAFE Act in lieu of HUD establishing and maintaining a licensing system for loan originators. If HUD determines that a State’s mortgage loan origination licensing standards do not meet the minimum requirements of the statute, HUD is charged with establishing and implementing a system for all mortgage loan originators in that State. Additionally, if HUD determines that the nationwide mortgage licensing system and registry is failing to meet the SAFE Act’s requirements, HUD is charged with establishing and maintaining a licensing and tracking system for mortgage loan originators. This rule provides the standards that HUD proposes to utilize to determine whether a State’s licensing systems complies with the requirements of the SAFE Act. 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 3100   
Legal Authority: 12 USC 5101 to 5113    42 USC 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/15/2009  74 FR 66548   
NPRM Comment Period End  02/16/2010    
NPRM Comment Period Extended  02/17/2010  75 FR 7149   
Second NPRM Comment Period Extended End  03/05/2010    
Final Action  03/00/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
James Beavers
Deputy Director, Office of Single Family Program Development
Department of Housing and Urban Development
451 7th Street NW,
Washington, DC 20410
Phone:202 402-2205