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#1633667 - 11/30/11 05:25 PM Date when MLO# was Required
Tesla Offline
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Joined: Nov 2003
Posts: 3,726
I can't remember the date when MLOs were required to give their number. Can you help?
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#1633669 - 11/30/11 05:27 PM Re: Date when MLO# was Required Tesla
manimal Offline
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manimal
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I believe it was a soon as they got their number from the registry...

ETA: Sorry, I should have said that I don't think the rule actually gave a "required" date to start giving it out, but I think it was a best practice to start disclosing them as soon as they were received from the NMLS, and definitely no later than the 7/29 drop date.
Last edited by manimal82; 11/30/11 05:32 PM.
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#1633677 - 11/30/11 05:32 PM Re: Date when MLO# was Required manimal
Tesla Offline
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True, but wasn't there a date like July 30th or something like that when all the SAFE Act took effect or am I confusing this with one of the many regulation changes this year?
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#1633678 - 11/30/11 05:33 PM Re: Date when MLO# was Required Tesla
manimal Offline
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The 7/29 date was the date all MLOs had to be registered by in order to continue making covered loans.
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#1633681 - 11/30/11 05:36 PM Re: Date when MLO# was Required manimal
Tesla Offline
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Joined: Nov 2003
Posts: 3,726
Thank you!!!! I swear am I losing it with all these dates! smile
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#1635153 - 12/05/11 01:52 PM Re: Date when MLO# was Required Tesla
John Burnett Offline
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John Burnett
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SAFE Act regulations became effective October 1, 2010. The registration requirement in section ____.103, however, didn't become effective until the Registry opened for federal registration in early January 2011. Each MLO was required to begin providing his/her unique NMLS identifier as soon as he/she obtained it, and all MLOs at federally-regulated institutions had to complete their registrations by 7/29/11.
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