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March 16, 2009
New legislation under Title V of the Housing and Economic Recovery Act of 2008 has some critics wondering if it should reach as far as loan servicers, while others are gladly integrating it into their mortgage fraud prevention laws.
MortgageDaily.com examines how the new legislation under the Secure and Fair Enforcement Mortgage Licensing Act, or S.A.F.E. Act, is being received and implemented by various states in the country. States such as Florida are using the new legislation to beef up its own mortgage regulations which includes criminal background checks for all mortgage brokers.
Mortgage brokers would also be required to be included in The Secure and Fair Enforcement Mortgage Licensing Act, (S.A.F.E.) Act 's Nationwide Mortgage Licensing System and Registry in which all states are could be and are encouraged to be utilizing by July 30.
Find out more at MortgageDaily.com
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