During a Pennsylvania mortgage operations checklist, a quality-control reviewer must resolve a question about licensing and NMLS authority. Which statement should control?
Correct Answer
D) Pennsylvania mortgage servicer license standards include GSE or federal agency approval or equivalent servicing qualifications, $250000 minimum net worth, fidelity bond coverage, a $500000 surety bond, and a qualifying individual.
Pennsylvania mortgage servicer license standards include GSE or federal agency approval or equivalent servicing qualifications, $250000 minimum net worth, fidelity bond coverage, a $500000 surety bond, and a qualifying individual.
Why This Is the Correct Answer
Pennsylvania mortgage servicer license standards include GSE or federal agency approval or equivalent servicing qualifications, $250000 minimum net worth, fidelity bond coverage, a $500000 surety bond, and a qualifying individual.
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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