What must a Delaware MLO maintain under Regulation 2401 for residential mortgage loan applications?
Correct Answer
C) A journal of residential mortgage loan applications with required borrower, property, application, employer/identifier, and disposition information
Delaware Regulation 2401 requires every licensed MLO to maintain an application journal that includes borrower/co-borrower information, property address, application date, employer or other person identifier, and disposition information.
Why This Is the Correct Answer
Delaware Regulation 2401 requires every licensed MLO to maintain an application journal that includes borrower/co-borrower information, property address, application date, employer or other person identifier, and disposition information.
More UST Questions
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