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Secure And Fair Enforcement For Mortgage Licensing
National Statute
Law Timeline
Jul 2008
July 30th, 2008
Aug 2009
August 1st, 2009
Jul 2010
July 21st, 2010July 22nd, 2010
Dec 2011
December 19th, 2011
Today
Details »
Date Enacted:
July 30, 2008
Enacted by:
United States Congress

Date Effective:
August 1, 2009
Enforced by:
Consumer Financial Protection Bureau

Citation:
12 USC Chapter 51
URL:
http://uscode.house.gov/download/pls/12C51.txt

Related Laws »
Created by:
Housing and Economic Recovery Act of 2008 (National - PL 110-289 Div. A, Title V)
Effective: August 1, 2009
Revised by:
Dodd-Frank Wall Street Reform and Consumer Protection Act (National - PL 111-203 Title X, Sec. 1100)
Effective: July 22, 2010
Enforced through:
Title 12, Part 1007 - S.A.F.E. Mortgage Licensing Act - Federal Registration of Residential Mortgage Loan Originators (National - 12 CFR 1007)
Effective: December 19, 2011
Enforced through:
Title 12, Part 1008 - S.A.F.E. Mortgage Licensing Act - State Compliance and Bureau Registration System (National - 12 CFR 1008)
Effective: December 19, 2011

Detailed History »
Sec. 5102
Revised by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Added definition:
  • Bureau

Updated definitions to accomodate changeover to CFPB:
  • Federal banking agency
  • Loan processor or underwriter
  • Director (Used to be Secretary)
  • State
  • State-licensed loan originator
Sec. 5106
Revised by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Made the following changes to accommodate transfer to CFPB:
Replaced:
  • Subsec. a paragraph 1

Updated:
  • Subsec. a paragraph 2
  • Subsec. b paragraph 1
  • Subsec. b paragraph 2
  • Subsec. c
Sec. 5107
Revised by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Made general changes to accommodate transfer to CFPB

Added subsec. f
Sec. 5108
Revised by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Substituted "Director" for "Secretary" to accommodate transfer to CFPB
Sec. 5109
Replaced by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Prior section 5109 was repealed by PL 111-203, title X, Sec. 1100 and replaced by PL 111-203, title X, Sec. 1100 (7)
Sec. 5111
Revised by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Substituted "Director" For "Secretary" To Accommodate Transfer To CFPB
Sec. 5112
Replaced by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Prior section 5112 which barred liability for good faith actions or omissions by certain entities' officers or employees, was repealed by PL 111-203, title X, Sec. 1100 and replaced by PL 111-203, title X, Sec. 1100(8)
Sec. 5113
Repealed by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Substituted "by the Bureau" for "under HUD backup licensing system" in section catchline and "Director" for "Secretary" wherever appearing in text.
Sec. 5115
Revised by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Substituted "Director" For "Secretary" To Accommodate Transfer To CFPB
Sec. 5116
Revised by PL 111-203 Title X, Sec. 1100
Eff: July 21, 2011
Details
Substituted "Director" For "Secretary" To Accommodate Transfer To CFPB
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