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During a Pennsylvania MLO sponsorship update, a training manager must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

A) Pennsylvania DoBS licenses non-bank lenders including mortgage brokers, originators, lenders, and servicers and enforces state and federal law for non-bank lenders.

Pennsylvania DoBS licenses non-bank lenders including mortgage brokers, originators, lenders, and servicers and enforces state and federal law for non-bank lenders.

Answer Options
A
Pennsylvania DoBS licenses non-bank lenders including mortgage brokers, originators, lenders, and servicers and enforces state and federal law for non-bank lenders.
B
Delay the Pennsylvania requirement until after the loan closes or the renewal period ends.
C
Treat consumer consent as a cure for a prohibited or missing compliance step.
D
Treat the timing or filing requirement as optional if the transaction appears low risk.

Why This Is the Correct Answer

Pennsylvania DoBS licenses non-bank lenders including mortgage brokers, originators, lenders, and servicers and enforces state and federal law for non-bank lenders.

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