SAFE Act (S.A.F.E. Mortgage Licensing Act of 2008, 12 U.S.C.) § 5112 — Liability provisions

safe-12usc-5112

SAFE Act (S.A.F.E. Mortgage Licensing Act of 2008, 12 U.S.C.), §5112 Liability provisions. Full verbatim text from the Office of the Law Revision Counsel's United States Code (USLM XML, release point 119-111).

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Verbatim regulatory text (3)

Verbatim provisions from SAFE Act (S.A.F.E. Mortgage Licensing Act of 2008, 12 U.S.C.) § 5112 — Liability provisions — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

12 U.S.C. §5112(1)

(1) have applied, are applying, or are licensed or registered through the Nationwide Mortgage Licensing System and Registry; and

Source: SAFE Act (S.A.F.E. Mortgage Licensing Act of 2008, 12 U.S.C.) § 5112 — Liability provisions · source URL · snapshot 1bee2d6724a2942c

12 U.S.C. §5112(2)

(2) work in an industry with respect to which persons were licensed or registered through the Nationwide Mortgage Licensing System and Registry on May 24, 2018.

Source: SAFE Act (S.A.F.E. Mortgage Licensing Act of 2008, 12 U.S.C.) § 5112 — Liability provisions · source URL · snapshot 1bee2d6724a2942c

12 U.S.C. §5112 note — source credit and editorial notes (not statute text)

(Pub. L. 110–289, div. A, title V, § 1513, as added Pub. L. 111–203, title X, § 1100(8), July 21, 2010, 124 Stat. 2107; amended Pub. L. 115–174, title I, § 106(c), May 24, 2018, 132 Stat. 1304.) Editorial Notes Prior Provisions A prior section 5112, Pub. L. 110–289, div. A, title V, § 1513, July 30, 2008, 122 Stat. 2820, which barred liability for good faith actions or omissions by certain entities’ officers or employees, was repealed by Pub. L. 111–203, title X, § 1100(8), July 21, 2010, 124 Stat. 2107. Amendments 2018—Pub. L. 115–174 substituted “persons who—” for “persons who are loan originators or are applying for licensing or registration as loan originators.” and added pars. (1) and (2). Statutory Notes and Related Subsidiaries Effective Date of 2018 Amendment Pub. L. 115–174, title I, § 106(d), May 24, 2018, 132 Stat. 1304, provided that: “This section [enacting section 5117 of this title and amending this section] and the amendments made by this section shall take effect on the date that is 18 months after the date of enactment of this Act [May 24, 2018].” Effective Date Section effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 552a of Title 5, Government Organization and Employees.

Source: SAFE Act (S.A.F.E. Mortgage Licensing Act of 2008, 12 U.S.C.) § 5112 (notes) · source URL · snapshot 1bee2d6724a2942c

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Source of record: https://claudeforcompliance.com/regs/safe-12usc-5112/ · register safe-12usc-5112 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.