A mortgage company asks a quality-control reviewer to validate an Ohio NMLS filing review involving licensing and NMLS authority. Which statement is reliable?
Correct Answer
B) Ohio individual MLO bonds for licensees associated with exemption holders are 0.5 percent of the prior-year aggregate loan amount, capped at $100000, and never less than $50000.
Ohio individual MLO bonds for licensees associated with exemption holders are 0.5 percent of the prior-year aggregate loan amount, capped at $100000, and never less than $50000.
Why This Is the Correct Answer
Ohio individual MLO bonds for licensees associated with exemption holders are 0.5 percent of the prior-year aggregate loan amount, capped at $100000, and never less than $50000.
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?
A renewal specialist is updating Missouri procedures for supervisory file review and flags licensing and NMLS authority. Which answer is accurate?
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