Which statement is most accurate about revocation and felony restrictions under North Carolina MLO law or NCCOB guidance?
Correct Answer
C) NC issuance standards include no unvacated MLO revocation, a 7-year felony restriction, a lifetime restriction for fraud, dishonesty, breach of trust, or money-laundering felonies, and financial responsibility.
NC issuance standards include no unvacated MLO revocation, a 7-year felony restriction, a lifetime restriction for fraud, dishonesty, breach of trust, or money-laundering felonies, and financial responsibility. North Carolina MLO license issuance standards include no unvacated MLO license revocation, 7-year felony restrictions, lifetime fraud/dishonesty/breach-of-trust/money-laundering felony restriction, and financial responsibility.
Why This Is the Correct Answer
NC issuance standards include no unvacated MLO revocation, a 7-year felony restriction, a lifetime restriction for fraud, dishonesty, breach of trust, or money-laundering felonies, and financial responsibility. North Carolina MLO license issuance standards include no unvacated MLO license revocation, 7-year felony restrictions, lifetime fraud/dishonesty/breach-of-trust/money-laundering felony restriction, and financial responsibility.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
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