Nội dung tiểu bang thống nhất (SAFE)Câu 390 / 400
A licensed MLO in State A wishes to originate loans for borrowers purchasing homes in State B. Under the SAFE Act, the MLO must:
a.Do nothing; a license in one state authorizes lending in all states
b.Obtain a separate license (or otherwise be authorized) in State B, since MLO licenses are issued state by state
c.Only notify State A of the additional activity
d.Register federally instead of holding any state license
Giải thích
State MLO licenses are jurisdiction-specific. An MLO must be licensed (or otherwise authorized) in each state where they originate loans. NMLS facilitates applying for licenses in multiple states through one system, but each state issues its own license and may have additional requirements.
Trích dẫn luật: SAFE ActLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which of the following best describes the 'general fitness and character' standard the SAFE Act requires of MLO applicants?
- A state-licensed MLO completes their 8 hours of continuing education on December 30 but does not submit the renewal request until January 15 of the next year. What is the most likely consequence?
- Which federal agency was given rulemaking authority over the SAFE Act after passage of the Dodd-Frank Act?
- Under the SAFE Act, an MLO must report certain changes to NMLS, such as a new criminal charge or a change of address, in order to:
- Which of the following would most likely be considered prohibited conduct subject to disciplinary action under the SAFE Act?
- The pre-licensing education requirement under the SAFE Act must be completed through:
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