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How often must a Delaware MLO’s residential mortgage loan application journal be updated?

Correct Answer

D) No less frequently than every 10 business days

Delaware Regulation 2401 requires the application journal to be kept current and updated no less frequently than every 10 business days.

Answer Options
A
Only once per year at renewal
B
Only after a loan closes
C
Every 90 calendar days
D
No less frequently than every 10 business days

Why This Is the Correct Answer

Delaware Regulation 2401 requires the application journal to be kept current and updated no less frequently than every 10 business days.

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