FHA requires Loan originators to be in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act). As of November 24, 2019, the CFPB has announced that temporary authority exists to allow certain loan originators under the S.A.F.E. Act to have temporary authority to act as a loan originator in a state for a period of 120 days after the date on which the State-licensed loan originator submits the application for a state loan originator license in that state. While operating under this temporary authority, the loan originator would not be in violation of the S.A.F.E. Act and therefore would not be operating in violation of FHA’s requirements. Additional information can be found on the Secure and Fair Enforcement for Mortgage Licensing Act on the following Consumer Financial Protection Bureau Website at: https://www.consumerfinance.gov/policy-compliance/guidance/mortgage-resources/secure-fair-enforcement-for-mortgage-licensing-act/
More information on SAFE mortgage licensing is available on the NMLS Resource Center website at https://mortgage.nationwidelicensingsystem.org/Pages/default.aspx or by contacting the NMLS Call Center at 1-855-NMLS-123 (1-855-665-7123).
Additional information may be found on HUD's S.A.F.E. Mortgage Licensing Act of 2008 web page at https://www.hud.gov/program_offices/housing/rmra/safe/sfea