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A Florida file is paused during an MLO sponsorship update because of sponsorship and employment status. Which statement clears the compliance question?

Correct Answer

B) Florida mortgage lender authority covers making mortgage loans or servicing mortgage loans for others, and a lender license is distinct from a mortgage broker license.

Florida mortgage lender authority covers making mortgage loans or servicing mortgage loans for others, and a lender license is distinct from a mortgage broker license.

Answer Options
A
Handle sponsorship and employment status with an informal note rather than the required license, disclosure, filing, or record.
B
Florida mortgage lender authority covers making mortgage loans or servicing mortgage loans for others, and a lender license is distinct from a mortgage broker license.
C
Use another jurisdiction's approval as a substitute for the Florida requirement.
D
Treat the requirement as waived because the borrower or employer agrees.

Why This Is the Correct Answer

Florida mortgage lender authority covers making mortgage loans or servicing mortgage loans for others, and a lender license is distinct from a mortgage broker license.

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