The Secure and Fair Mortgage Licensing Act (SAFE Act) was enacted on July 30, 2008 as part of the Housing and Economic Recovery Act of 2008. The SAFE Act, among other things, requires states to adopt licensing and registration requirements for loan originators within certain minimum standards. If HUD determines that a state fails to establish such minimum standards consistent with the SAFE Act, HUD must then establish and implement a licensing system in that state. This proposed rule sets forth the SAFE Act’s minimum licensing requirements for loan originators and delineates the HUD procedure for determining a state’s compliance therewith and procedures for taking over the licensing system in the event of a state’s non-compliance. Comments on this proposed rule are due on February 16, 2010. [Download.]
Summaries of select CalWORKs, CalFresh, Health and Housing Regulations