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OCC BULLETIN 2012-11
To: Chief Executive Officers and Compliance Officers of All National Banks, Federal Savings Association, Federal Branches and Agencies, Department and Division Heads, and All Examining Personnel

Description: Examination Procedures

The Office of the Comptroller of the Currency is issuing interagency examination procedures for the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act).

On July 28, 2010, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration, and Farm Credit Administration published substantively similar regulations implementing the SAFE Act federal registration requirements for the institutions they supervise and the institutions’ mortgage loan originator employees. On July 21, 2011, rulemaking authority for the SAFE Act transferred to the Consumer Financial Protection Bureau. The examination procedures lay out the background and requirements of the SAFE Act and the SAFE Act regulation concerning federal registration.

The SAFE Act examination procedures are available on www.occ.gov. If you have questions, please contact your supervisory office or the Compliance Policy Department at (202) 649-5470.

Grovetta N. Gardineer
Deputy Comptroller for Compliance Policy

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