Nội dung tiểu bang thống nhất (SAFE)Câu 397 / 400
How does the surety bond amount for a state-licensed MLO or company typically vary?
a.It generally scales with the dollar volume of residential mortgage loans originated
b.It is a flat $50 fee for every licensee nationwide
c.It decreases as loan volume increases
d.It is set by the individual borrower at closing
Giải thích
States commonly set surety bond amounts on a sliding scale tied to the volume of residential mortgage loans originated, so higher-volume originators carry larger bonds. This scales consumer protection to the level of activity. The bond is not a flat nominal fee and is not set by borrowers.
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 individuals is acting as a mortgage loan originator and would generally need to be licensed or registered?
- What is the purpose of requiring MLOs to disclose their unique identifier to consumers?
- A regulator issues a cease-and-desist order against an MLO. What does this order require the MLO to do?
- If a state fails to enact a licensing system that meets the SAFE Act's minimum standards, what does the Act authorize?
- An MLO's license is revoked in one state due to fraud. Because of the NMLS unique identifier and shared system, what is the likely effect in other states?
- Which of the following statements about the SAFE Act's unique identifier is correct?
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