Examples of S.A.F.E. act in a sentence
A recent bill passed by the US House of Representatives on August 4th, 2001 is the comprehensive energy bill, called the SAFE act.
They passed the Secure and Fair Enforcement Mortgages Act (SAFE act), which gives the state a time period to enact legislation to license these individuals at the state level.o Since then, the federal government has put forth regulations interpreting the SAFE Act, which occurred concurrently with the States’ enacting legislation.
The reason why the implementation of the SAFE act was such a radical change in the way that mortgage loan originators had been regulated is that, previously, States had been the sole regulators for licensing and registration.
Financial institutions; mortgage brokers and lenders; secondary mortgage loan act; amend to comply with federal SAFE act requirements.Amends title & secs.
References: RCW 31.04.025(3): The director may, at his or her discretion, waive applicability of the consumer loan company licensing provisions of this chapter to other persons, not including individuals subject to the S.A.F.E. act, making or servicing loans when the director determines it necessary to facilitate commerce and protect consumers.