Under Delaware law, which activity by a loan processor or underwriter can remain clerical/support work rather than MLO activity?
Correct Answer
C) Collecting and analyzing information after an application is received without offering or negotiating loan rates or terms
Delaware allows clerical/support duties such as collecting and analyzing information after receipt of an application, so long as the communication does not include offering or negotiating rates or terms or counseling about rates or terms.
Why This Is the Correct Answer
Delaware allows clerical/support duties such as collecting and analyzing information after receipt of an application, so long as the communication does not include offering or negotiating rates or terms or counseling about rates or terms.
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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