A branch supervisor in Georgia trains staff on scope, definitions, and exemptions during an application package during an application package. Which statement should be taught?
Correct Answer
A) Georgia depository-institution originators may be exempt from state MLO licensure but must keep NMLS registration and a unique identifier.
Georgia depository institution loan originators employed by a bank, bank subsidiary, credit union, or Farm Credit Administration institution are exempt from state MLO licensure but must be registered with NMLSR and maintain a unique identifier.
Why This Is the Correct Answer
Georgia depository institution loan originators employed by a bank, bank subsidiary, credit union, or Farm Credit Administration institution are exempt from state MLO licensure but must be registered with NMLSR and maintain a unique identifier.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
A renewal specialist is updating Missouri procedures for supervisory file review and flags licensing and NMLS authority. Which answer is accurate?
For a Missouri consumer complaint response, a branch supervisor is training staff on licensing and NMLS authority. Which answer should be used?
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A licensing checklist in Missouri includes a question about scope, definitions, and exemptions. Which entry should the branch supervisor keep?
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