3.0.0 2595 2022-02-03T05:11:18Z 2022-02-03T05:11:18Z Senate S S 2008-02-06 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2008-02-06T17:01:52Z 2008-02-06 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S735-739) IntroReferral 2008-02-06 Sponsor introductory remarks on measure. (CR S734-735) IntroReferral B00100 9 Library of Congress 2008-02-06 Introduced in Senate IntroReferral 10000 9 Library of Congress F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA N M001162 Sen. Martinez, Mel [R-FL] Mel Martinez R FL 2008-02-06 True B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2008-02-14 False S001163 Sen. Salazar, Ken [D-CO] Ken Salazar D CO 2008-02-25 False O000167 Sen. Obama, Barack [D-IL] Barack Obama D IL 2008-04-10 False D000601 Sen. Dole, Elizabeth [R-NC] Elizabeth Dole R NC H. 2008-04-10 False C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R 2008-04-10 False K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2008-04-10 False M000702 Sen. Mikulski, Barbara A. [D-MD] BARBARA MIKULSKI D MD ANN 2008-04-10 False C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA 2008-04-10 False N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2008-05-06 False K000305 Sen. Kohl, Herb [D-WI] HERBERT KOHL D WI H. 2008-05-06 False C000174 Sen. Carper, Thomas R. [D-DE] Thomas Carper D DE R. 2008-05-20 False S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2008-06-17 False H.R. 3221 https://www.congress.gov/bill/110th-congress/house-bill/3221 Finance and Financial Sector Congress Congressional reporting requirements Federal-state relations Foreclosure Government Operations and Politics Governmental investigations Housing and Community Development Law Licenses Loan defaults Mortgage banks Mortgages Standards State laws Finance and Financial Sector 00 2008-02-06 Introduced in Senate 2008-04-03T17:13:35Z Secure and Fair Enforcement for Mortgage Licensing Act of 2008, or S.A.F.E. Mortgage Licensing Act of 2008 - Encourages the states to establish a Nationwide Mortgage Licensing System and Registry for the residential mortgage industry through the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators.

Sets forth procedures, requirements (including education and testing), and standards for mandatory registration and state licensing of mortgage loan originators.

Requires the federal banking agencies jointly, through the Federal Financial Institutions Examination Council, to develop and maintain a system for registering depository institiution employees as registered loan originators with the Registry.

Directs the Secretary of Housing and Urban Development (HUD) to establish and maintain a backup licensing and registration system for loan originators operating in a state that either: (1) does not, after a certain period of time, have a licensing and registering system for loan originators that meets the requirements of this Act; or (2) does not participate in the Registry.

Requires the HUD Secretary also to establish and maintain a backup licensing, supervisory, and tracking system for loan originators if the Registry is failing to meet the requirements and purposes of this Act.

Declares that this Act does not preempt state law which provides greater protection to consumers than is provided under this Act.

Directs the HUD Secretary to study and report to Congress on the root causes of default and foreclosure of home loans.

]]> Secure and Fair Enforcement for Mortgage Licensing Act of 2008 Short Titles as Introduced Secure and Fair Enforcement for Mortgage Licensing Act of 2008 Short Titles as Introduced S.A.F.E. Mortgage Licensing Act of 2008 Display Title Secure and Fair Enforcement for Mortgage Licensing Act of 2008 Official Title as Introduced A bill to create a national licensing system for residential mortgage loan originators, to develop minimum standards of conduct to be enforced by State regulators, and for other purposes. Introduced in Senate 2008-02-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2595is/xml/BILLS-110s2595is.xml 2008-02-06 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S735-739) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.