Which fact would weaken reliance on Delaware’s manager/supervisor exclusion from the MLO definition?
Correct Answer
D) The manager communicates directly with customers about mortgage loan origination
Delaware’s exclusion applies to certain officers or managers supervising MLOs who do not communicate directly with customers; direct customer communication undermines that exclusion.
Why This Is the Correct Answer
The manager communicates directly with customers about mortgage loan origination is correct. Delaware’s exclusion applies to certain officers or managers supervising MLOs who do not communicate directly with customers; direct customer communication undermines that exclusion. Delaware’s exclusion applies to certain officers or managers supervising MLOs who do not communicate directly with customers; direct customer communication undermines that exclusion.
Why the Other Options Are Wrong
Option A: The manager supervises MLOs
Supervising MLOs is part of the exclusion when no direct customer communication occurs.
Option B: The manager is an officer of the originating entity
Officer or manager status can fit the exclusion.
Option C: The manager works for an originating entity
Working for an originating entity is not by itself the fact that defeats the exclusion.
Memory Technique
DE-C025 -> Delaware-definitions-and-exemptions
Exam Tip
Watch for direct customer communication.
Common Mistakes to Avoid
- -Importing another state requirement into Delaware
- -Confusing NMLS baseline requirements with Delaware-specific rules
- -Treating operational assumptions as legal authority
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