Finance
The SAFE Act requires that mortgage loan originators:
ABe licensed real estate agents
BBe registered or licensed through the Nationwide Mortgage Licensing System (NMLS)✓ Correct
CHold a minimum of $100,000 in surety bond coverage
DDisclose their credit score to borrowers
Explanation
The Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act requires all mortgage loan originators to be registered or licensed through the NMLS. This creates a national database to track loan originators and protect consumers.
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