an Indiana compliance file raises a sponsorship and employment status question involving DFI says the sponsoring employer for a DFI-licensed MLO must be a DFI-licensed mortgage lender or an entity. Which statement is supported by the state rule?
Correct Answer
B) Indiana MLO activity must satisfy the required sponsorship or employment-status condition before activity continues.
Indiana DFI says the sponsor/employer for a DFI-licensed MLO must be a DFI-licensed mortgage lender or an entity exempt from DFI licensure.
Why This Is the Correct Answer
Indiana DFI says the sponsor/employer for a DFI-licensed MLO must be a DFI-licensed mortgage lender or an entity exempt from DFI licensure.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
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A mortgage company asks a policy analyst to validate a Missouri branch onboarding review involving licensing and NMLS authority. Which statement is reliable?
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Previous Question
A state compliance officer is updating Oklahoma procedures for annual compliance meeting and flags licensing and NMLS authority. Which answer is accurate?
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During an Utah supervisory file review, a loan file reviewer must resolve a question about licensing and NMLS authority. Which statement should control?
