A training manager is updating Pennsylvania procedures for NMLS filing review and flags sponsorship and employment status. Which answer is accurate?
Correct Answer
A) Pennsylvania prohibits engaging in the mortgage loan business without the required mortgage broker, mortgage lender, mortgage servicer, or mortgage originator license unless an exception applies.
Pennsylvania prohibits engaging in the mortgage loan business without the required mortgage broker, mortgage lender, mortgage servicer, or mortgage originator license unless an exception applies.
Why This Is the Correct Answer
Pennsylvania prohibits engaging in the mortgage loan business without the required mortgage broker, mortgage lender, mortgage servicer, or mortgage originator license unless an exception 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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Before approving an application package in Georgia, a loan file reviewer reviews sponsorship and employment status. Which conclusion is compliant?
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A lender preparing a Virginia renewal checklist asks a loan file reviewer about sponsorship and employment status. Which response should be followed?