An MLO discovers that their NMLS record contains incorrect information about their employment history. What is the proper procedure to correct this?
Correct Answer
D) Submit a correction request through their individual NMLS account
MLOs can submit correction requests for inaccurate information through their individual NMLS accounts. While some changes require employer involvement, basic corrections to personal information and employment history can typically be initiated by the MLO directly through the NMLS system.
Why This Is the Correct Answer
MLOs can submit correction requests for inaccurate information through their individual NMLS accounts. While some changes require employer involvement, basic corrections to personal information and employment history can typically be initiated by the MLO directly through the NMLS system.
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Under the GFLA, a lender who makes a high-cost home loan based primarily on the borrower's home equity rather than ability to repay has violated the prohibition against:
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Which scenario would immediately terminate an MLO's temporary authority before the 120-day period expires?