Finance
What does the SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act) require of Oregon mortgage professionals?
AAll real estate agents must be licensed as mortgage brokers
BMortgage loan originators must be licensed or registered and meet minimum education and testing standards✓ Correct
CAll Oregon lenders must use government-approved loan products only
DOregon mortgage rates must comply with federal usury limits
Explanation
The SAFE Act requires all mortgage loan originators (MLOs) to be licensed through the Nationwide Mortgage Licensing System (NMLS). Oregon MLOs must complete pre-licensure education, pass a national test, meet background and financial requirements, and complete continuing education annually. This distinguishes MLO licensing from real estate broker licensing.
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