A servicer employee only performs loss mitigation on existing loans. What is the best conclusion under North Carolina MLO law or NCCOB guidance?
Correct Answer
B) An individual acting solely as a loss mitigation specialist is excluded from the NC MLO definition unless the applicable CFPB rule changes that treatment.
An individual acting solely as a loss mitigation specialist is excluded from the NC MLO definition unless the applicable CFPB rule changes that treatment. An individual acting solely as a loss mitigation specialist is excluded from the North Carolina MLO definition unless the applicable CFPB rule changes that treatment.
Why This Is the Correct Answer
An individual acting solely as a loss mitigation specialist is excluded from the NC MLO definition unless the applicable CFPB rule changes that treatment. An individual acting solely as a loss mitigation specialist is excluded from the North Carolina MLO definition unless the applicable CFPB rule changes that treatment.
More UST Questions
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