Bill Will Enhance Workforce Mobility for Mortgage Loan Officers

closing pic 1.jpgLast week, the SAFE Transitional License Act (S. 1753) was introduced in the Senate with the enthusiastic support of MBA and the mortgage industry. Similar bipartisan legislation (H.R. 2948) was introduced in late June in the U.S. House of Representatives. The SAFE Transitional License Act, could have a huge impact for the mortgage industry, as mortgage loan officers (MLOs) may soon be able to transition from a traditional bank to a nonbank and keep originating new mortgage loans without having to wait for a new license.

Continue reading