Which of the following individuals is required to submit to a criminal background check through the NMLS as part of the DFPI licensing process?
Correct Answer
C) The MLO applicant, and control persons of a company applicant including owners with 10% or more interest
The DFPI requires criminal background checks through FBI fingerprinting for individual MLO applicants and for control persons of company license applicants. Control persons include officers, directors, managers, and owners holding 10% or more of the company's equity.
Why This Is the Correct Answer
The DFPI requires criminal background checks through FBI fingerprinting for individual MLO applicants and for control persons of company license applicants. Control persons include officers, directors, managers, and owners holding 10% or more of the company's equity.
More UST Questions
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