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A staff member asks whether a Pennsylvania procedure for SAFE testing is compliant. Which answer is correct?

Correct Answer

B) Pennsylvania applicants and licensees must provide written notice of changes in application or renewal information within 10 days after becoming aware of the change.

Pennsylvania applicants and licensees must provide written notice of changes in application or renewal information within 10 days after becoming aware of the change.

Answer Options
A
Assume the Pennsylvania requirement does not apply to this branch onboarding review.
B
Pennsylvania applicants and licensees must provide written notice of changes in application or renewal information within 10 days after becoming aware of the change.
C
Treat continuing education and renewal as satisfied by borrower consent alone.
D
Delay the Pennsylvania requirement until after the loan closes or the renewal period ends.

Why This Is the Correct Answer

Pennsylvania applicants and licensees must provide written notice of changes in application or renewal information within 10 days after becoming aware of the change.

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