Uniform State Content (SAFE Act)Question 363 of 400
Which of the following is a required element of the criminal background review for a state MLO license applicant?
a.The applicant must never have received a parking ticket
b.The applicant must submit a personal reference letter in place of fingerprints
c.The applicant must submit fingerprints for a criminal history background check, and cannot have certain felony convictions within the disqualifying period
d.The applicant must have a college degree in finance
Explanation
Applicants must submit fingerprints so NMLS can obtain a criminal history background check. The SAFE Act permanently bars anyone convicted of a felony involving fraud, dishonesty, breach of trust, or money laundering, and bars applicants with any felony in the seven years preceding application. Minor infractions and degrees are not the standard.
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