The SAFE Act requires agencies to collectively develop and maintain a system for registering residential mortgage loan originators who are employees of agency-regulated institutions. The proposed rule will be delayed because modification of the registry to accept federal registrations involves complex technical issues. The proposal is being issued jointly by the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of Thrift Supervision, Farm Credit Administration, and National Credit Union Administration. Consumers will be able to use the unique identifiers to access employment and other background information.”]
Source: https://www.bankinfosecurity.com/agencies-issue-rules-on-mortgage-loan-originators-a-1511