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During an Indiana regulator exam preparation, a quality-control reviewer must resolve a question about continuing education and renewal. Which statement should control?

Correct Answer

D) Indiana DFI says a license is required for an MLO to engage in mortgage loan origination business activities in Indiana as defined by Indiana statute.

Indiana DFI says a license is required for an MLO to engage in mortgage loan origination business activities in Indiana as defined by Indiana statute.

Answer Options
A
Assume the Indiana requirement does not apply to this company policy update.
B
Treat continuing education and renewal as satisfied by borrower consent alone.
C
Delay the Indiana requirement until after the loan closes or the renewal period ends.
D
Indiana DFI says a license is required for an MLO to engage in mortgage loan origination business activities in Indiana as defined by Indiana statute.

Why This Is the Correct Answer

Indiana DFI says a license is required for an MLO to engage in mortgage loan origination business activities in Indiana as defined by Indiana statute.

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