House passes sweeping change to loan originator licensing rules – Housing Wire 3/23/16

SAFE Transitional Licensing Act of 2015 moves to Senate

 
May 23, 2016
by  Ben Lane
From Housing Wire: “‘CHLA commends the House for adopting transitional licensing, a good first step in addressing the significant disparity between bank and non-bank mortgage loan originator qualifications requirements,’ said Scott Olson, executive director of the CHLA. ‘We also renew our call for the Consumer Financial Protection Bureau to take the pro-consumer step of imposing a universal SAFE Act test requirement on all mortgage loan originators nationwide.'”
Link to full article.