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An operations lead handling a Virginia loan-originator transfer needs the compliant answer for continuing education and renewal. What should the reviewer choose?

Correct Answer

B) Virginia MLO license applications are filed on a Registry-provided form and include the applicant name, residential address, employer or MLO activity address, background information, and a nonrefundable application fee not exceeding $150.

Virginia MLO license applications are filed on a Registry-provided form and include the applicant name, residential address, employer or MLO activity address, background information, and a nonrefundable application fee not exceeding $150.

Answer Options
A
Skip the Virginia requirement because the company already follows general SAFE Act procedures.
B
Virginia MLO license applications are filed on a Registry-provided form and include the applicant name, residential address, employer or MLO activity address, background information, and a nonrefundable application fee not exceeding $150.
C
Treat continuing education and renewal as optional because the company has a general Virginia compliance policy.
D
Postpone the Virginia continuing education and renewal issue until the next annual review.

Why This Is the Correct Answer

Virginia MLO license applications are filed on a Registry-provided form and include the applicant name, residential address, employer or MLO activity address, background information, and a nonrefundable application fee not exceeding $150.

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