SAFE Act Policies and Procedures

Dear Credit Union Mortgage Lenders:

The definition of “Mortgage Loan Originator” in the attached sample SAFE Act Policies and Procedures has been revised to follow the federal SAFE Act definition (rather than the Texas SAFE act definition). Under the federal definition, the MLO is an employee who takes a residential application and offers or negotiates terms.  Under the Texas SAFE Act, an MLO is one who takes a residential application or offers or negotiates terms.

“An MLO is a _________ employee who: takes a residential mortgage loan application, and offers or negotiates terms of a residential mortgage loan for compensation or gain.”

If you have any questions or concerns about the SAFE Act, do not hesitate to call my office.

Morton Baird | Law Offices of Morton W. Baird II | |210 828 5844



The information contained in this website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient’s state.   The content of this Website contains general information and may not reflect current legal developments, verdicts, or settlements.  The Law Offices of Morton W. Baird II expressly disclaims all liability in respect to actions taken or not taken based on any or all the content of this Website.