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Under DFPI CFL residential mortgage guidance, what minimum net worth applies to a CFL broker that brokers residential mortgage loans but does not make residential mortgage loans?

Correct Answer

A) $50,000

DFPI CFL guidance lists a $50,000 net-worth requirement for a CFL broker that brokers residential mortgage loans but does not make residential mortgage loans.

Answer Options
A
$50,000
B
$10,000
C
$250,000
D
$1,000,000

Why This Is the Correct Answer

DFPI CFL guidance lists a $50,000 net-worth requirement for a CFL broker that brokers residential mortgage loans but does not make residential mortgage loans.

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