Press Release: Settlements over SAFE Act Education Requirements

The following press release, issued by the Conference of State Bank Supervisors (CSBS), was recently posted to their website. The press release announces forty-four state regulators reaching settlements with hundreds of mortgage loan originators over SAFE Act education requirements. Through the settlements, over 70 Texas-licensed residential mortgage loan originators agreed to surrender their licenses for a period of three months, pay an administrative penalty of $1,000 to the Department of Savings and Mortgage Lending, and retake both the pre-licensing and continuing education courses.

Press Release:  State Regulators Settle with Hundreds of Mortgage Loan Originators over SAFE Act Education Requirements