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A loan file reviewer documents a Missouri loan-originator transfer and needs one rule for licensing and NMLS authority. Which statement belongs in the file?

Correct Answer

D) Missouri residential mortgage broker company licensure includes background criminal and credit investigations for directors, members, owners, partners, proprietors, and persons influencing management.

Missouri residential mortgage broker company licensure includes background criminal and credit investigations for directors, members, owners, partners, proprietors, and persons influencing management.

Answer Options
A
Treat the requirement as waived because the borrower or employer agrees.
B
Assume another state's approval automatically satisfies the Missouri requirement.
C
Apply the Missouri rule only to company licenses and never to individual MLO activity.
D
Missouri residential mortgage broker company licensure includes background criminal and credit investigations for directors, members, owners, partners, proprietors, and persons influencing management.

Why This Is the Correct Answer

Missouri residential mortgage broker company licensure includes background criminal and credit investigations for directors, members, owners, partners, proprietors, and persons influencing management.

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