A Delaware MLO’s personal website lists the individual as offering residential mortgage origination services. What identifier rule applies?
Correct Answer
D) The MLO’s unique identifier must be clearly shown on the website
Delaware requires the unique identifier to be clearly shown on solicitations or advertisements, including business cards or websites, and on residential mortgage loan application forms.
Why This Is the Correct Answer
Delaware requires the unique identifier to be clearly shown on solicitations or advertisements, including business cards or websites, and on residential mortgage loan application forms.
Why the Other Options Are Wrong
Option A: The identifier may be omitted if the website has a contact form
A contact form does not remove the website identifier requirement.
Option B: The identifier is required only on paper application forms
The requirement is not limited to paper application forms.
Option C: The identifier is required only after a loan closes
The requirement is not delayed until closing.
Memory Technique
DE-C016 -> Delaware-records-reports-and-identifiers
Exam Tip
Websites listing the MLO need the unique identifier.
Common Mistakes to Avoid
- -Importing another state requirement into Delaware
- -Confusing NMLS baseline requirements with Delaware-specific rules
- -Treating operational assumptions as legal authority
More UST Questions
In a pricing desk question, an audit analyst sees facts tied to Prohibited Misrepresentation. What should the file reflect?
An applicant previously had an MLO license revoked by a state regulator. Under the SAFE Act minimum standards for a new state-licensed MLO license, which statement is correct?
Which statement correctly distinguishes a license suspension from a license revocation?
A state regulator has issued an order suspending an MLO's authority effective immediately. The MLO has filed an appeal, but no stay has been granted. What should the MLO do?
An MLO license application asks whether the applicant has been the subject of a regulatory order. The applicant has a recent consent order that falls within the question. What is the proper response?
Why does NMLS maintain licensing and enforcement information that participating regulators can access?
A regulator issues a final license suspension without giving the MLO notice of the alleged violation or any opportunity to respond, even though applicable law requires both. What issue is presented?
A regulator finds that an MLO charged consumers prohibited fees. Which set of actions is consistent with the enforcement tools contemplated by Regulation H?
An MLO's license status in NMLS changes to suspended, with no stay or reinstatement shown. What is the immediate operational effect?
Which fact most directly supports disciplinary action against an MLO rather than merely a request for additional application information?
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