A Pennsylvania compliance manager is reviewing a state-law refresher tied to licensing and NMLS authority. Which rule should be applied?
Correct Answer
A) Pennsylvania Chapter 59 applies to mortgage loans serviced by a mortgage servicer licensed by the Department and incorporates CFPB mortgage servicing regulations in 12 CFR Part 1024, Subpart C.
Pennsylvania Chapter 59 applies to mortgage loans serviced by a mortgage servicer licensed by the Department and incorporates CFPB mortgage servicing regulations in 12 CFR Part 1024, Subpart C.
Why This Is the Correct Answer
Pennsylvania Chapter 59 applies to mortgage loans serviced by a mortgage servicer licensed by the Department and incorporates CFPB mortgage servicing regulations in 12 CFR Part 1024, Subpart C.
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