1513 of the S.A.F.E. Mortgage Licensing Act of 2008 ( 12 U.S.C. 5112 ) is amended by striking are loan originators or are applying for licensing or registration as loan originators. and inserting have applied, are applying, or are currently licensed or registered through the Nationwide Mortgage Licensing System and Registry. The previous sentence shall only apply to persons in an industry with respect to which persons were licensed or registered through the Nationwide Mortgage Licensing System and Registry on the date of the enactment of this sentence. . 3. Effective date This Act and the amendments made by this Act shall take effect on the date that is 18 months after the date of the enactment of this Act.