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A person is an independent contractor of a Delaware originating entity and is compensated indirectly by that entity while engaging in mortgage loan originating. How does Delaware treat that affiliation?

Correct Answer

D) The person is affiliated with the originating entity for Delaware MLO definition purposes

Delaware says affiliated with an originating entity includes an independent contractor compensated by the originating entity in whole or in part, directly or indirectly.

Answer Options
A
Independent contractors are always excluded from Delaware MLO coverage
B
Indirect compensation can never create affiliation
C
Only salaried employees can be affiliated
D
The person is affiliated with the originating entity for Delaware MLO definition purposes

Why This Is the Correct Answer

Delaware says affiliated with an originating entity includes an independent contractor compensated by the originating entity in whole or in part, directly or indirectly.

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