A training quiz asks about Pennsylvania rules for pre-licensure education. Which option gives the correct rule?
Correct Answer
A) NMLS lists Pennsylvania state-licensed MLO pre-licensure education as 20 hours: 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage lending, 9 elective hours, and 3 hours of Pennsylvania law.
NMLS lists Pennsylvania state-licensed MLO pre-licensure education as 20 hours: 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage lending, 9 elective hours, and 3 hours of Pennsylvania law.
Why This Is the Correct Answer
NMLS lists Pennsylvania state-licensed MLO pre-licensure education as 20 hours: 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage lending, 9 elective hours, and 3 hours of Pennsylvania law.
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A mortgage company asks an operations lead to validate a Wisconsin training scenario involving licensing and NMLS authority. Which statement is reliable?
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During a West Virginia new-license application, a sponsorship reviewer must resolve a question about licensing and NMLS authority. Which statement should control?