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A compliance manager is updating Florida procedures for training scenario and flags licensing and NMLS authority. Which answer is accurate?

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
Treat consumer consent as a cure for a prohibited or missing compliance step.
C
Treat the timing or filing requirement as optional if the transaction appears low risk.
D
Assume the Florida requirement does not apply to this advertising approval.

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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