The deadline to submit comments on the proposed Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) is TODAY, Friday March 5th, 2010
The federal and proposed state legislation define foreclosure counselors, including those in the Center’s network, as loan originators.
Including foreclosure counselors in the legislation will necessitate extreme costs, irrelevant education, and unreasonable redundancies, all of which could jeopardize the existence of free, unbiased, trusted, effective foreclosure prevention counseling services at a time when they are most needed.
Foreclosure Counselors should not be subject to the SAFE Act, please consider submitting comments to HUD.
For more information... including copies of the text the Center submitted to HUD, copies of the proposed rule and comment submission instructions, please visit the Center's website here.