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For a Florida consumer complaint response, a loan file reviewer is training staff on licensing and NMLS authority. Which answer should be used?

Correct Answer

A) Florida mortgage broker businesses must use licensed loan originators for public loan-originator activity and should not pay unlicensed persons for activity that requires a license.

Florida mortgage broker businesses must use licensed loan originators for public loan-originator activity and should not pay unlicensed persons for activity that requires a license.

Answer Options
A
Florida mortgage broker businesses must use licensed loan originators for public loan-originator activity and should not pay unlicensed persons for activity that requires a license.
B
Use only the federal baseline and ignore the separate Florida state requirement.
C
Apply the rule only after the Florida regulator has already opened an examination.
D
Skip the Florida requirement because the company already follows general SAFE Act procedures.

Why This Is the Correct Answer

Florida mortgage broker businesses must use licensed loan originators for public loan-originator activity and should not pay unlicensed persons for activity that requires a license.

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