© 2018 Electronic Code of Federal Regulations (e-CFR)
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(ii)Prohibition. A covered financial institution must not permit an employee who is subject to the registration requirements of this part to act as a mortgage loan originator for thecovered the covered financial institution unless such employee is registered with the Registry pursuant to this part.
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(i)In general. If an employee of a covered financial institution was registered or licensed through, and obtained a unique identifier from, the Registry and has maintained this registration or license before the employee becomes subject to this part at the currentcovered current covered financial institution, then the registration requirements of the S.A.F.E. Act and this part are deemed to be met, provided that:
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(i) Except as provided in paragraph (b)(3) of this section, renew the registration during theannual the annual renewal period, confirming the responses set forth in paragraphs (d)(1)(i) through (viii) of this section remain accurate and complete, and updating this information, as appropriate; and
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(2)Employee authorizations and attestation. An employee registering as a mortgage loan originator or renewing or updating his or her registration under this part, and not the employingcovered employing covered financial institution or other employees of the covered financial institution, must:
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(3)Submission of information. A covered financial institution may identify one or more employees of the covered financial institution who may submit the information required byparagraph by paragraph (d)(1) of this section to the Registry on behalf of the covered financial institution's employees provided that this individual, and any employee delegated such authority, does not act as a mortgage loan originator, consistent with paragraph (e)(1)(i)(F) of this section. In addition, a covered financial institution may submit to the Registry some or all of the information required by paragraphs (d)(1) and (e)(2) of this section for multiple employees in bulk through batch processing in a format to be specified by the Registry, to the extent such batch processing is made available by the Registry.
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(E) Name(s) and contact information of the individual(s) with authority to act as thecovered the covered financial institution's primary point of contact for the Registry;
(F) Name(s) and contact information of the individual(s) with authority to enter the information required by paragraphs (d)(1) and (e) of this section to the Registry and who may delegate this authority to other individuals. For the purpose of providing information required by paragraph (e) of this section, this individual and their delegates must not act asmortgage as mortgage loan originators unless the covered financial institution has 10 or fewer full time or equivalent employees and is not a subsidiary; and
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