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A Florida renewal specialist is reviewing a loan-originator transfer tied to licensing and NMLS authority. Which rule should be applied?

Correct Answer

D) Florida mortgage lenders may hold servicing authority when properly licensed or endorsed, and servicing for others is distinct from merely brokering a mortgage loan.

Florida mortgage lenders may hold servicing authority when properly licensed or endorsed, and servicing for others is distinct from merely brokering a mortgage loan.

Answer Options
A
Skip the Florida requirement because the company already follows general SAFE Act procedures.
B
Treat continuing education and renewal as optional because the company has a general Florida compliance policy.
C
Postpone the Florida continuing education and renewal issue until the next annual review.
D
Florida mortgage lenders may hold servicing authority when properly licensed or endorsed, and servicing for others is distinct from merely brokering a mortgage loan.

Why This Is the Correct Answer

Florida mortgage lenders may hold servicing authority when properly licensed or endorsed, and servicing for others is distinct from merely brokering a mortgage loan.

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