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#1721018 - 07/18/12 01:58 PM annual training topics
Trees Offline
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Joined: Apr 2005
Posts: 4,013
We have a handful of people registered. I am trying to determine just what we need to cover with them to satisfy the annual training requirement. Do you do this only for the registered people or everyone handling res. mortgage loan process?

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S.A.F.E. Act Forum
#1721021 - 07/18/12 01:59 PM Re: annual training topics Trees
swiggles Offline
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Joined: Aug 2001
Posts: 7,333
What annual training requirement?
The more you sweat in training, the less you bleed in battle.......

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#1721055 - 07/18/12 02:39 PM Re: annual training topics Trees
Doug Hendrickson Offline
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Doug Hendrickson
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Posts: 3,927
There is no annual training requirement. There is a requirement to ensure that the MLOs know their responsibilities, especially with regards the registration requirements.

However, it wouldn't hurt to restate that each year and include other loan participants so that they understand the requirements and don't inadvertently 'qualify' as MLOs.
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1721280 - 07/18/12 07:33 PM Re: annual training topics Trees
Trees Offline
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Joined: Apr 2005
Posts: 4,013
Some materials I had specified an annual training component.

Good, thanks.

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#1721297 - 07/18/12 07:41 PM Re: annual training topics Trees
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,389
If there is an annual training requirement, it would be a state level requirement when they adopted SAFE, and not a federal requirement.

Review your state version of SAFE to be sure your state does not require more than the federal rules.
I don't repeat gossip, so listen closely...

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#1721491 - 07/19/12 02:32 PM Re: annual training topics Trees
Many Hats Offline
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Joined: May 2008
Posts: 915
Orlando, FL
The sample procedures available through BOL indicate a training requirement for newly hired employees to be done within 90 days of employment.

Just to be sure...this is not specified anywhere in the Reg, right? It is just a sample procedure.

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#1721666 - 07/19/12 08:19 PM Re: annual training topics Many Hats
Sewanee, CRCM Offline
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Joined: Dec 2006
Posts: 435
It was my understanding that the annual training requirements were limited to originators who work through lenders that are not insured depository institutions. In addition to the training requirements, they also had to pass state and national tests, which employees of insured institutions did not.

Has anyone heard of any impending changes to that?
Keep Calm and Carry On

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