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In Delaware, which person generally must hold a Delaware MLO license if they perform the activity as an independent contractor?

Correct Answer

B) An independent loan processor or independent underwriter

Delaware treats an independent processor or independent underwriter as needing the MLO license before engaging in covered Delaware residential mortgage loan business.

Answer Options
A
A teller employed by a depository institution who never offers loan terms
B
An independent loan processor or independent underwriter
C
A family member negotiating a loan only for an immediate family member
D
A real estate broker paid only for real estate brokerage services

Why This Is the Correct Answer

Delaware treats an independent processor or independent underwriter as needing the MLO license before engaging in covered Delaware residential mortgage loan business.

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