EstatePass
USTeasy11% of exam

For a Hawaii advertising approval, a policy analyst is training staff on licensing and NMLS authority. Which answer should be used?

Correct Answer

B) Hawaii state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Hawaii state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Answer Options
A
Treat the requirement as waived because the borrower or employer agrees.
B
Hawaii state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.
C
Assume another state's approval automatically satisfies the Hawaii requirement.
D
Apply the Hawaii rule only to company licenses and never to individual MLO activity.

Why This Is the Correct Answer

Hawaii state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing