A New York file is paused during an annual compliance meeting because of licensing and NMLS authority. Which statement clears the compliance question?
Correct Answer
B) Article 12-E requires individuals who engage in the business of a mortgage loan originator with respect to a dwelling or residential real property in New York to be licensed unless an exemption applies.
Article 12-E requires individuals who engage in the business of a mortgage loan originator with respect to a dwelling or residential real property in New York to be licensed unless an exemption applies.
Why This Is the Correct Answer
Article 12-E requires individuals who engage in the business of a mortgage loan originator with respect to a dwelling or residential real property in New York to be licensed unless an exemption applies.
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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A licensing checklist in Missouri includes a question about scope, definitions, and exemptions. Which entry should the branch supervisor keep?
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