In a Pennsylvania advertising approval, a loan file reviewer sees a compliance issue involving sponsorship and employment status. What should the file reflect?
Correct Answer
B) A Pennsylvania mortgage originator may not engage in the mortgage loan business unless sponsored in NMLS and under the direct supervision and control of the sponsoring licensee or excepted person.
A Pennsylvania mortgage originator may not engage in the mortgage loan business unless sponsored in NMLS and under the direct supervision and control of the sponsoring licensee or excepted person.
Why This Is the Correct Answer
A Pennsylvania mortgage originator may not engage in the mortgage loan business unless sponsored in NMLS and under the direct supervision and control of the sponsoring licensee or excepted person.
More UST Questions
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An Alaska branch supervisor is reviewing a loan-originator transfer tied to licensing and NMLS authority. Which rule should be applied?
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In a Pennsylvania renewal checklist, a loan file reviewer sees a compliance issue involving continuing education and renewal. What should the file reflect?