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SAFE Act Compliance for Mortgage Loan Originators (MLOs)

Sep 03 2:00 PM - Sep 03, 2020 3:30 PM
Sep 03, 2020 2:00 PM - 3:30 PM
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Who qualifies as an MLO? Are your MLOs meeting their registration and audit mandates? What are the compensation rules? How does the SAFE Act fit in? This in-depth webinar will cover the ins and outs of MLOs and the SAFE Act, including how to avoid hefty penalties for noncompliance.

Learning Objectives

  • Identify who must register, which employees meet the definition of “mortgage loan originator,” and which are exempt
  • Understand the steps required in the initial and subsequent registration process,including proper use of forms, criminal background checks, fingerprinting, and submission of MLO registration
  • Follow the required policies, procedures, and compensation rules
  • Complete nine required steps for the annual audit
  • Avoid potential penalties for noncompliance, which can reach $25,000 per incident for making unlicensed loans

Mortgage loan originators (MLOs) face many compliance obligations, starting with mandates for the registration process. They are also required to perform an annual independent audit. This webinar is the perfect opportunity to get clarity on these rules.It will also address the SAFE Act requirements, provide an overview of the Loan Originator Compensation Rule, and proffer nine steps for auditing for the SAFE Act.



Susan Costonis, CRCM, Compliance Consulting and Training for Financial Institutions

Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training.Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.




Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Lending & Collections
  • Compliance