Nội dung tiểu bang thống nhất (SAFE)Câu 399 / 400
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?
a.The revocation is invisible to other states and has no effect
b.The MLO automatically gains licenses in all other states
c.Other states can see the disciplinary action through NMLS and may take their own action, since the unique identifier links the MLO's record across jurisdictions
d.The unique identifier is deleted and the MLO gets a clean record
Giải thích
Because the unique identifier ties an MLO's record together across all states in NMLS, disciplinary actions such as a revocation are visible to every state regulator. Other states can consider that history and may deny, suspend, or revoke the MLO's license in their jurisdiction as well. The record is not erased.
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?
- How does the surety bond amount for a state-licensed MLO or company typically vary?
- If a state fails to enact a licensing system that meets the SAFE Act's minimum standards, what does the Act authorize?
- Which of the following statements about the SAFE Act's unique identifier is correct?
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra