EstatePass
USTeasy11% of exam

In a New Jersey company policy update, a branch supervisor sees a compliance issue involving sponsorship and employment status. What should the file reflect?

Correct Answer

B) An employee loan processor or underwriter performing clerical or support duties under supervision is not required to hold a New Jersey MLO license solely for that clerical or support role.

An employee loan processor or underwriter performing clerical or support duties under supervision is not required to hold a New Jersey MLO license solely for that clerical or support role.

Answer Options
A
Assume another state's approval automatically satisfies the New Jersey requirement.
B
An employee loan processor or underwriter performing clerical or support duties under supervision is not required to hold a New Jersey MLO license solely for that clerical or support role.
C
Apply the New Jersey rule only to company licenses and never to individual MLO activity.
D
Handle sponsorship and employment status with an informal note rather than the required license, disclosure, filing, or record.

Why This Is the Correct Answer

An employee loan processor or underwriter performing clerical or support duties under supervision is not required to hold a New Jersey MLO license solely for that clerical or support role.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing