An MLO receives a consent order requiring payment of a $5,000 fine and completion of additional education within 60 days. The MLO pays the fine but fails to complete the education by the deadline. What enforcement action is most appropriate?
Correct Answer
C) Suspend the license until the education requirement is met
Failure to comply with the terms of a consent order typically results in license suspension until all requirements are satisfied. This ensures compliance with regulatory directives and protects consumers from potentially unqualified MLOs.
Why This Is the Correct Answer
Failure to comply with the terms of a consent order typically results in license suspension until all requirements are satisfied. This ensures compliance with regulatory directives and protects consumers from potentially unqualified MLOs.
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A loan originator learns that an appraisal is scheduled and mentions to the listing agent, "I hope the property shows well for the appraiser." This statement is:
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