Michigan Law Requires Licensing Of Individuals Handling Loan Modifications

Posted by on Jul 19, 2011 in NMLS SAFE Act, Operations, Origination, Uncategorized | 0 comments The Michigan Office Of Financial and Insurance Regulation (OFIR), now an office under the Department of Licensing and Regulatory Affairs (LARA) issued a letter clearly stating that effective July 31, 2011 any employee solely performing loan modification activities as defined by the MLO Licensing Act must be licensed as a Mortgage Loan Originator. This requirement applies to institutions who must...
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