EstatePass
USTmedium11% of exam

Which person fits Delaware’s registered MLO exemption when acting for the described entity?

Correct Answer

D) An MLO employee of a depository institution who is registered with and maintains a unique identifier through NMLS

Delaware exempts registered MLOs when acting for covered depository, qualifying subsidiary, or Farm Credit entities and registered with and maintaining a unique identifier through NMLS.

Answer Options
A
An independent loan broker who has no NMLS identifier
B
A loan processor advertising that they can negotiate loan rates
C
A real estate broker compensated by a lender to negotiate loan terms
D
An MLO employee of a depository institution who is registered with and maintains a unique identifier through NMLS

Why This Is the Correct Answer

Delaware exempts registered MLOs when acting for covered depository, qualifying subsidiary, or Farm Credit entities and registered with and maintaining a unique identifier through NMLS.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing