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A mortgage team is building a Missouri procedure for sponsorship and employment status. Which statement matches the state requirement?

Correct Answer

C) Missouri Division of Finance says originators employed by depository institutions are exempt from the Missouri MLO licensing requirement.

Missouri Division of Finance says originators employed by depository institutions are exempt from the Missouri MLO licensing requirement.

Answer Options
A
Use a new-license application exception instead of satisfying the rule before activity continues.
B
Close or renew first, then decide whether the new-license application needs a compliance correction.
C
Missouri Division of Finance says originators employed by depository institutions are exempt from the Missouri MLO licensing requirement.
D
Proceed before the required Missouri license, sponsorship, disclosure, record, or approval is in place.

Why This Is the Correct Answer

Missouri Division of Finance says originators employed by depository institutions are exempt from the Missouri MLO licensing requirement.

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