TransUnion Selected to Assist Mortgage Loan Originators Fulfill SAFE Act Requirements
Chicago, Nov. 22, 2010
– Following the July 2008 passage of the Secure and Fair Enforcement for Mortgage Licensing Act (“SAFE Act”) residential mortgage loan originators are required to maintain their state mortgage loan originator license(s) on the Nationwide Mortgage Licensing System and Registry (NMLS). As part of maintaining their license on NMLS and in compliance with the mandates of the SAFE Act, state licensed mortgage loan originators are required to provide authorization for NMLS to obtain an independent credit report. TransUnion is pleased to announce that it has been selected as the NMLS solution – providing credit and credit-related alerts to assist mortgage loan originators in fulfilling their filing obligations.
“The TransUnion solution provides both security and ease of access for mortgage loan originators to comply with the requirements of their professional license,” said, Mike Mauseth, vice president in TransUnion’s rental screening business unit. “Mortgage loan originators can verify their identity and other required information online through the site, without impacting their credit score.”
As a global leader in credit information and information management services, TransUnion creates economic and competitive advantages for businesses and consumers. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive solutions that leverage data, advanced analytics and decisioning technology. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs associates in more than 25 countries on five continents. www.Transunion.com