A lender preparing a Texas consumer complaint response asks a compliance manager about licensing and NMLS authority. Which response should be followed?
Correct Answer
A) Texas Finance Code Chapter 156 requires a residential mortgage loan company license or registration for a person engaged in the business of residential mortgage loans unless an exemption applies.
Texas Finance Code Chapter 156 requires a residential mortgage loan company license or registration for a person engaged in the business of residential mortgage loans unless an exemption applies.
Why This Is the Correct Answer
Texas Finance Code Chapter 156 requires a residential mortgage loan company license or registration for a person engaged in the business of residential mortgage loans unless an exemption applies.
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?
A renewal specialist is updating Missouri procedures for supervisory file review and flags licensing and NMLS authority. Which answer is accurate?
For a Missouri consumer complaint response, a branch supervisor is training staff on licensing and NMLS authority. Which answer should be used?
For a Missouri branch onboarding review, a branch supervisor is training staff on licensing and NMLS authority. Which answer should be used?
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A licensing checklist in Missouri includes a question about scope, definitions, and exemptions. Which entry should the branch supervisor keep?
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