What is the Secure and Fair Enforcement for Mortgage Licensing Act of 2008?

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) is a federal statute that was signed into law on July 30, 2008. In part, it sets minimum standards for the following: mortgage loan originator state licensing and regulation; uniform license applications and reporting requirements; a comprehensive licensing database; and the registration of mortgage loan originators employed by federal depository institutions and their subsidiaries.