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Maria takes residential mortgage applications at a company and also offers and negotiates loan terms with borrowers, earning a commission. Under the SAFE Act, what is she?
A loan originator is an individual who takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain (12 U.S.C. 5102(4)(A)). Maria does both for a commission, so she must be a state-licensed or registered loan originator (12 U.S.C. 5103(a)). Source: 12 U.S.C. 5102(4), 5103(a) (as at 11 Oct 2026).
Overlooking that taking an application plus offering or negotiating terms is the test.
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