Nội dung tiểu bang thống nhất (SAFE)Câu 370 / 400
Carlos works at a mortgage company and only assembles and files paperwork after a licensed MLO has taken the application and negotiated terms. Carlos does not communicate with borrowers about rates or terms. Under the SAFE Act, Carlos:
a.Must obtain a state MLO license because he handles loan files
b.Is generally not required to be licensed, because purely clerical or administrative work does not meet the definition of an MLO
c.Must register as a federal MLO regardless of his duties
d.Must pass the SAFE MLO test but does not need education
Giải thích
Individuals performing purely clerical or administrative tasks, such as assembling and filing documents after an application has been taken, generally do not meet the SAFE Act definition of an MLO and are not required to be licensed. Licensing is triggered by taking applications or offering/negotiating loan terms.
Trích dẫn luật: SAFE ActLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- During what annual window must a state-licensed MLO submit a license renewal request through NMLS?
- A state-licensed MLO takes the same 8-hour CE course twice in the same year to fulfill this year's and next year's requirement. Under the SAFE Act's successive-years rule, this is:
- Under the SAFE Act's definition, a mortgage loan originator is an individual who, for compensation or gain, does which of the following?
- Under the SAFE Act, on which of the following must a state-licensed MLO display their NMLS unique identifier?
- What is NMLS Consumer Access?
- Which of the following activities would generally require an individual to hold a state MLO license?
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Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra