SAFE

Question 1

SAFE is implemented by the following legislation

Answer 1

Housing and Economic Recovery Act of 2008 (HERA)

Question 2

Nationwide licensing database and education standards for the mortgage industry

Answer 2

Nationwide Multistate Licensing System (NMLS)

Question 3

SAFE is also referred to as

Answer 3

Regulation G / Regulation H

Question 4

The three forms used for the NMLS licensing process:

Answer 4

1. Company Form
2. Branch Form
3. Individual Form

Question 5

NMLS registration form used for business license applicants and sole proprietors

Answer 5

Company Form

Question 6

NMLS registration form used by company licensees to apply for and maintain branch licenses

Answer 6

Branch Form

Question 7

NMLS registration form used by individual licensees such as mortgage loan originators, but also for control persons and qualifying individuals.

Answer 7

Individual Form

Question 8

Following licensure, loan originators must complete at least XXXXXX hours of continued education

Answer 8

8 hours