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For a Missouri MLO sponsorship update, a compliance manager is training staff on sponsorship and employment status. Which answer should be used?

Correct Answer

A) 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
Missouri Division of Finance says originators employed by depository institutions are exempt from the Missouri MLO licensing requirement.
B
Close or renew first, then decide whether the new-license application needs a compliance correction.
C
Proceed before the required Missouri license, sponsorship, disclosure, record, or approval is in place.
D
Use an informal manager exception without updating the license, file, or required record.

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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