A compliance officer is coaching an MLO on Virginia SAFE testing. Which answer should the MLO follow?
Correct Answer
C) Virginia MLO applications must use the Registry and include required fees and bond documentation.
Virginia MLO applications are submitted through the Registry with identity, personal history, experience, fingerprints, required Registry fees, and a $150 application fee, and the required bond or bond-coverage documentation must be filed with the Bureau within five days.
Why This Is the Correct Answer
Virginia MLO applications are submitted through the Registry with identity, personal history, experience, fingerprints, required Registry fees, and a $150 application fee, and the required bond or bond-coverage documentation must be filed with the Bureau within five days.
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?
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