OCC Bulletin 2011-6| February 3, 2011

S.A.F.E. Act Mortgage Loan Originator Registration Requirements: Notice of Initial Registration Period


Chief Executive Officers of All National Banks, Department and Division Heads, All Examining Personnel, and Other Interested Parties

Under the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) and the final rules issued on July 28, 2010, residential mortgage loan originators employed by banks, savings associations, credit unions, Farm Credit System institutions, and certain subsidiaries of these financial institutions must register with the Nationwide Mortgage Licensing System and Registry (Registry), obtain a unique identifier from the Registry, and maintain this registration.

The initial period for this federal registration will run from January 31, 2011, through July 29, 2011. After this 180-day period expires, any existing employee or newly hired employee of an agency-regulated institution who is subject to the registration requirements will be prohibited from originating residential mortgage loans without first obtaining a federal registration. The OCC, along with the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of Thrift Supervision, Farm Credit Administration, and National Credit Union Administration published a notice in the Federal Register on February 3, 2011 announcing this registration period. (See attached.)

National banks are encouraged to visit the Registry website, which has further information about the federal registration process, to facilitate the registration of their mortgage loan originator employees. National banks also may find information about federal registration requirements by visiting the OCC's website. They may email questions about federal registration to SafeActSystem@occ.treas.gov.


John Walsh
Acting Comptroller of the Currency

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