Under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), banks are required to ensure that their Mortgage Loan Originators (MLOs) are properly registered with the Nationwide Mortgage Licensing System and Registry (NMLSR). Each fall, every MLO is required to renew their registration between November 1st and December 31st. The SAFE Act requires all employees who are MLOs be informed of the registration requirements. In addition, Regulation Z requires all Loan Originators (LOs) including MLOs be properly trained to perform their jobs and to understand the prohibitions under the law. As you are working on registration renewals, are you confident that your LOs and MLOs have received the training required under the SAFE Act and Regulation Z? Worry no longer! The IBA has developed OnDemand training just for this purpose. This comprehensive webinar defines who is a Loan Originator, who is a Mortgage Loan Originator, MLO qualifications, prohibited activities, registration renewal requirements, LO compensation rules, and an overview of state and federal regulations. The cost of this training for IBA members is only $150.
To purchase this valuable training, click here or go to the Iowa Bankers Association website and visit the Compliance section. Select OnDemand Training and then click the link to register. As with all the IBA OnDemand training sessions, banks can reuse the training for annual, period or even new employee training at no additional cost.