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Posted: 9:17 AM Aug 4, 2010
Mortgage Brokers Licensing
Act passed in 2008 Nebraska regulators have begun licensing mortgage brokers and mortgage originators, as required by the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
Reporter: Associated Press Email Address: sixonline@wowt.com |
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Nebraska regulators have begun licensing mortgage brokers and mortgage originators, as required by the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
The Nebraska Department of Banking and Finance says the broker applications are made to the department through the Nationwide Mortgage Licensing System. Consumers will be able to check licenses
through the system's website.
Applicants must attend 20 hours of classes, pass tests on state and federal mortgage laws and clear criminal background checks.
The department says that as of July 31, it had granted 648 licenses.
Mortgage loan officers who work for credit unions, banks, savings banks and their subsidiaries must register through a separate system that is still being set up.
