A Virginia file is paused during a company policy update because of sponsorship and employment status. Which statement clears the compliance question?
Correct Answer
A) Virginia requires the stated MLO licensing or NMLS authority before covered origination activity.
Virginia regulation requires MLO licensure for MLO activity by employees or exclusive agents of Chapter 16 licensees, employees or exclusive agents of Chapter 16-exempt persons other than registered MLOs, and individuals who are not employees or exclusive agents of either a licensee or exempt person.
Why This Is the Correct Answer
Virginia regulation requires MLO licensure for MLO activity by employees or exclusive agents of Chapter 16 licensees, employees or exclusive agents of Chapter 16-exempt persons other than registered MLOs, and individuals who are not employees or exclusive agents of either a licensee or exempt person.
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An Indiana file is paused during a training scenario because of sponsorship and employment status. Which statement clears the compliance question?
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