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A sponsorship reviewer handling a New Jersey supervisory file review needs the compliant answer for sponsorship and employment status. What should the reviewer choose?

Correct Answer

D) A person licensed as a New Jersey real estate broker or salesperson does not need a New Jersey MLO license solely for that role if not engaged in residential mortgage lender or broker business.

A person licensed as a New Jersey real estate broker or salesperson does not need a New Jersey MLO license solely for that role if not engaged in residential mortgage lender or broker business.

Answer Options
A
Apply the New Jersey rule only to company licenses and never to individual MLO activity.
B
Handle sponsorship and employment status with an informal note rather than the required license, disclosure, filing, or record.
C
Use another jurisdiction's approval as a substitute for the New Jersey requirement.
D
A person licensed as a New Jersey real estate broker or salesperson does not need a New Jersey MLO license solely for that role if not engaged in residential mortgage lender or broker business.

Why This Is the Correct Answer

A person licensed as a New Jersey real estate broker or salesperson does not need a New Jersey MLO license solely for that role if not engaged in residential mortgage lender or broker business.

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