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a Pennsylvania compliance file raises a sponsorship and employment status question involving licensing exceptions include a person who originates, services, or negotiates fewer than 4 mortgage loans in a calendar. Which statement is supported by the state rule?

Correct Answer

B) Pennsylvania licensing exceptions include a person who originates, services, or negotiates fewer than 4 mortgage loans in a calendar year unless the Department determines the person is engaged in the mortgage loan business.

Pennsylvania licensing exceptions include a person who originates, services, or negotiates fewer than 4 mortgage loans in a calendar year unless the Department determines the person is engaged in the mortgage loan business.

Answer Options
A
Allow the activity whenever the individual has general mortgage experience.
B
Pennsylvania licensing exceptions include a person who originates, services, or negotiates fewer than 4 mortgage loans in a calendar year unless the Department determines the person is engaged in the mortgage loan business.
C
Treat company licensing alone as enough for every individual MLO activity.
D
Ignore the state condition if the consumer file is otherwise complete.

Why This Is the Correct Answer

Pennsylvania licensing exceptions include a person who originates, services, or negotiates fewer than 4 mortgage loans in a calendar year unless the Department determines the person is engaged in the mortgage loan business.

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