12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.305 — Data security
12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB), §1008.305 Data security. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
Verbatim provisions from 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.305 — Data security — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §1008.305(a)
(a) To the extent that CSBS, AARMR, or their successors maintain the NMLSR, CSBS, AARMR, and their successors, as applicable, must complete a background check on their employees, contractors, or other persons who have access to loan originators' Social Security Numbers, fingerprints, or any credit reports collected by the system.
12 CFR §1008.305(b)
(b) To the extent that CSBS, AARMR, or their successors maintain the NMLSR, CSBS, AARMR, and their successors as applicable, must keep and adhere to an appropriate information security and privacy policy. If the NMLSR forms a reasonable belief that a security breach has occurred, it shall notify affected parties, as soon as practicable, including the Bureau, any loan originator or registrant whose data may have been compromised, and the employer of the loan originator or registrant, if such employer is also licensed through the system.
Operationalizing 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.305 — Data security
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
Source of record: https://claudeforcompliance.com/regs/safe-12cfr-1008-305/
· register safe-12cfr-1008-305 · Claude for Compliance. Free to read and download;
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