A non-exempt individual wants to originate a residential mortgage loan secured by a dwelling located in Delaware. What must the individual do before conducting that Delaware business?
Correct Answer
A) Obtain and annually maintain a Delaware MLO license and NMLS unique identifier
Delaware requires a non-exempt individual to obtain and annually maintain a Delaware MLO license before engaging in MLO business for a dwelling located in the state, and the licensee must maintain an NMLS unique identifier.
Why This Is the Correct Answer
Delaware requires a non-exempt individual to obtain and annually maintain a Delaware MLO license before engaging in MLO business for a dwelling located in the state, and the licensee must maintain an NMLS unique identifier.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
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A licensing checklist in Missouri includes a question about scope, definitions, and exemptions. Which entry should the branch supervisor keep?
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