U.S. Code » Title 12 » Chapter CHAPTER 51— SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING

12 U.S.C. § 5103

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(a) In generalSubject to the existence of a licensing or registration regime, as the case may be, an individual may not engage in the business of a loan originator without first—(1) obtaining, and maintaining annually—(A) a registration as a registered loan originator; or(B) a license and registration as a State-licensed loan originator; and(2) obtaining a unique identifier.(b) Loan processors and underwriters(1) Supervised loan processors and underwriters

A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information (including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items), that such individual can or will perform any of the activities of a loan originator shall not be required to be a State-licensed loan originator.

(2) Independent contractors

An independent contractor may not engage in residential mortgage loan origination activities as a loan processor or underwriter unless such independent contractor is a State-licensed loan originator.

(Pub. L. 110–289, div. A, title V, § 1504, July 30, 2008, 122 Stat. 2814.)
Notes of Decisions
Cited in 4 cases (2 in the last 5 years), 2014–2026 · leading case: Reid v. Neighborhood Assistance Corp. of America
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Reid v. Neighborhood Assistance Corp. of America (2014) ca7 “See 12 U.S.C. § 5103 (Supp.2013). Reid and Don Meadows (the regional manager) were the only people tied to the Chicago office who held the appropriate licenses.”
Evans v. Hood (2020) dcd · cites it 2× “¶¶ 26–37; (II) a violation of the federal Secure and Fair Enforcement (SAFE) Mortgage Licensing Act of 2008, 12 U.S.C. § 5103 , as to JoAnn Hood and the Trust, Am.”
Coker v. Norwich Commercial Group, Inc. (2023) scd “12 U.S.C. § 5103 (a); Cal. Fin. Code § 50002 (a), (d); S.”
Cathy Estrella v. PNF Realty, Inc., and Peter N. Floros (2026) med “§ 2-301, and the federal Secure and Fair Enforcement for Mortgage Licensing Act (“SAFE Act”), 12 U.S.C. § 5103 , by conducting mortgage lending and servicing in Maine without the necessary licenses.”
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