SAFE Act – Annual Renewal Period
Just a friendly reminder the SAFE Act renewal period ends December 31, 2012. This means all banks and its Mortgage Loan Originators (MLOs) must renew their registration during the annual renewal period (November 1 – December 31) each year. Please note, MLOs that registered on or after July 1, 2012, do not have to renew until the 2013 renewal period next year. If an MLO registration is not renewed, the registration becomes inactive and the person cannot perform MLO functions. If this happens, the person can renew his/her registration at a later time without waiting until the next annual renewal period begins. For an explanation of the SAFE Act requirements, including the annual renewal process, read the Consumer Financial Protection Bureau’s exam procedures. An additional resource would include the National Mortgage Licensing System (NMLS).
Published
2012/12/17
David Dickinson
David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.
He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.
David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.