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A Delaware-licensed real estate broker only performs real estate brokerage activity and is not compensated by a lender, mortgage broker, MLO, or their agents. Which statement is most accurate under Delaware MLO definitions?

Correct Answer

D) The person is excluded from the MLO definition for that activity

Delaware excludes a person or entity that only performs real estate brokerage activity and is properly licensed or registered, unless compensated by a lender, mortgage broker, MLO, or their agent.

Answer Options
A
The person automatically becomes an MLO because all real estate licensees are MLOs
B
The person must obtain an MLO license solely because the property is residential
C
The person is exempt only if the loan is a commercial loan
D
The person is excluded from the MLO definition for that activity

Why This Is the Correct Answer

Delaware excludes a person or entity that only performs real estate brokerage activity and is properly licensed or registered, unless compensated by a lender, mortgage broker, MLO, or their agent.

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