Michigan Law Requires Licensing Of Individuals Handling Loan Modifications
Posted by Krista Sabol on Jul 19, 2011 in NMLS SAFE Act, Operations, Origination 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...read more
