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#1464520 - 11/05/10 03:06 PM SAFE ACT unique identifier
VRV Offline
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Joined: Jun 2007
Posts: 173
It seems to me that we could potentially have several MLOs involved in one application, i.e., the Banker in the branch who takes the application, the processor who receives the application and sends out the disclosures, and the Banker who closes the loan. Do all of these MLOs need to communicate their unique identifier?

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Lending Compliance
#1465057 - 11/05/10 09:27 PM Re: SAFE ACT unique identifier VRV
Dani York, CRCM Offline
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Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
The MLO should disclose their identifier in the first written correspondence before acting as an MLO. So if all the MLOs involved in the loan are going to give the customer some paper, they should also give the customer their identifier with the first written correspondence.

Best way to do that, the first interaction the MLO has with the customer....give out the MLO's business card with their identifier printed on it.
I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.

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