Under the SAFE act, which requirement is NOT the responsibility of the state regulatory authority?

The state regulatory authority plays a crucial role in overseeing and enforcing the standards set forth by the SAFE Act, which is aimed at enhancing consumer protection and reducing fraud in the mortgage industry. One of their responsibilities is to maintain records and data related to mortgage loan originators (MLOs) and to ensure compliance with regulations.

However, when it comes to the specific functionality regarding public access to records and enforcement of violations, that responsibility does not rest solely with the state regulatory authority. Instead, the establishment of processes related to public access and the handling of enforcement violations can involve a broader set of stakeholders, including national databases and federal entities. These systems are typically designed to facilitate transparency and accessibility, aligning with national standards rather than being solely dictated by state-level authority.

Thus, while the state regulatory authority has many responsibilities, the specific duty of maintaining records and enforcement for public access extends beyond its direct responsibility, making it the correct choice among the options provided.