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Which Delaware scenario is expressly exempt from the Delaware MLO chapter?

Correct Answer

A) An individual offering or negotiating loan terms with or on behalf of an immediate family member

Delaware exempts an individual who offers or negotiates residential mortgage loan terms with or on behalf of the individual’s immediate family member.

Answer Options
A
An individual offering or negotiating loan terms with or on behalf of an immediate family member
B
An independent contractor processor handling Delaware loan files for compensation
C
An individual advertising specific available rates without holding a valid required license
D
An MLO who fails to maintain a valid NMLS unique identifier

Why This Is the Correct Answer

Delaware exempts an individual who offers or negotiates residential mortgage loan terms with or on behalf of the individual’s immediate family member.

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