Is this a violation of the SAFE Act that it appears a MLO using his NMLS# while active with the bank, is leaving and has the intent to take applicant(s) with him to new bank/mortgage company? It may be unethical but not sure if violation...
Thanks!

The SAFE Act is basically just a list and disclosure requirement. There are no restictions in the SAFE Act for MLO behavior aside from them not acting as an MLO without being registered, disclosing their number, and not violating the law. Taking applicants with him to his new bank is not a violation of law, but may be a violation of your bank's policy.

You own the loan application/documents and have a right to keep without transferring the information to another institution. The borrower may request the transfer, but only the borrower's original documents are required to be transferred.
You should check your bank's policy regarding transferring borrowers loan documents. The appraisal cannot be transferred and any payments required for it may be retained for payment to appraiser.
As Dani indicated the SAFE ACT is only to license and Register MLOs. It does not instill ethical conduct.

Old, but still valid:

http://www.bankersonline.com/forum/ubbth...true#Post509668