Summary of the Loan Originator Interpretive Rule
A summary of the CFPB’s interpretive rule addressing EGRRCPA Section 106 amendments to the S.A.F.E. Act. The Section 106 amendments provide a temporary authority for mortgage loan originators licensed in one state to work as mortgage loan originators in another state while applying for licensure in their new state. In this interpretive rule, the CFPB has determined that the screening and training requirements of Reg Z do not apply to those who were granted temporary authority under the EGRRCPA.
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