Under the Texas SAFE Act, a mortgage loan originator who has had their license revoked in another state may be subject to which of the following actions by Texas regulators?
Correct Answer
D) Denial of their Texas RMLO license application
Under the Texas SAFE Act, a prior license revocation in another state is grounds for denial of a Texas RMLO license application. Texas regulators consider the applicant's licensing history in all states.
Why This Is the Correct Answer
Under the Texas SAFE Act, a prior license revocation in another state is grounds for denial of a Texas RMLO license application. Texas regulators consider the applicant's licensing history in all states.
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Under New Jersey's Fair Foreclosure Act, before commencing a foreclosure action, the lender must send a notice of intention to foreclose. How many days before filing must this notice be sent?