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an Oklahoma compliance file raises an application and licensing qualifications question involving Department of Consumer Credit identifies the Mortgage Loan Originator license as the state license for mortgage loan originator. Which statement is supported by the state rule?

Correct Answer

D) Oklahoma licensing depends on the required application, background, credit, and financial-responsibility findings.

Oklahoma Department of Consumer Credit identifies the Mortgage Loan Originator license as the state license for mortgage loan originator activity.

Answer Options
A
Rely on prior mortgage experience instead of the stated state or NMLS requirement.
B
Treat the file as complete without the required licensing documentation.
C
Delay the correction until after approval, closing, or a later complaint.
D
Oklahoma licensing depends on the required application, background, credit, and financial-responsibility findings.

Why This Is the Correct Answer

Oklahoma Department of Consumer Credit identifies the Mortgage Loan Originator license as the state license for mortgage loan originator activity.

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