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a Maryland compliance file raises a scope, definitions, and exemptions question involving excludes licensed real estate brokerage activity from the MLO definition unless the individual is compensated by a mortgage. Which statement is supported by the state rule?

Correct Answer

A) Maryland scope, exemption, and role-definition rules control whether the activity requires MLO licensing.

Maryland excludes licensed real estate brokerage activity from the MLO definition unless the individual is compensated by a mortgage lender, mortgage broker, mortgage loan originator, or their agent.

Answer Options
A
Maryland scope, exemption, and role-definition rules control whether the activity requires MLO licensing.
B
Allow the activity whenever the individual has general mortgage experience.
C
Treat company licensing alone as enough for every individual MLO activity.
D
Ignore the state condition if the consumer file is otherwise complete.

Why This Is the Correct Answer

Maryland excludes licensed real estate brokerage activity from the MLO definition unless the individual is compensated by a mortgage lender, mortgage broker, mortgage loan originator, or their agent.

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