Uniform State Content (SAFE Act)Question 373 of 400
Which of the following activities would generally require an individual to hold a state MLO license?
a.Negotiating the interest rate and terms of a residential mortgage loan with a borrower for compensation
b.Photocopying a borrower's completed application for the file
c.Answering the office phone and transferring calls to a licensed MLO
d.Delivering a signed loan package to the escrow office
Explanation
Offering or negotiating the terms of a residential mortgage loan for compensation is a core licensable activity under the SAFE Act. Purely administrative acts such as photocopying, transferring phone calls, or delivering documents do not, by themselves, trigger the licensing requirement.
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