A call-center employee only takes a Delaware customer’s contact information and forwards it to a licensed MLO without discussing mortgage products. Which Delaware definition point is most relevant?
Correct Answer
B) Taking customer information alone is not deemed soliciting
Delaware’s definition page says soliciting does not mean taking customer information or referring the customer or information to a person who engages in mortgage loan originating.
Why This Is the Correct Answer
Delaware’s definition page says soliciting does not mean taking customer information or referring the customer or information to a person who engages in mortgage loan originating.
Why the Other Options Are Wrong
Option A: Any contact with a borrower is automatically soliciting
Delaware distinguishes information-taking from soliciting.
Option C: Forwarding information always equals negotiating loan terms
Referral of information is not automatically negotiating loan terms.
Option D: The employee has finalized loan terms by taking contact information
Taking contact information does not finalize loan terms.
Memory Technique
DE-C023 -> Delaware-definitions-and-exemptions
Exam Tip
Do not overread clerical intake as soliciting unless mortgage products are discussed.
Common Mistakes to Avoid
- -Importing another state requirement into Delaware
- -Confusing NMLS baseline requirements with Delaware-specific rules
- -Treating operational assumptions as legal authority
More UST Questions
In a pricing desk question, an audit analyst sees facts tied to Prohibited Misrepresentation. What should the file reflect?
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An MLO's license status in NMLS changes to suspended, with no stay or reinstatement shown. What is the immediate operational effect?
Which fact most directly supports disciplinary action against an MLO rather than merely a request for additional application information?
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