In a Washington supervisory file review, a compliance manager sees a compliance issue involving sponsorship and employment status. What should the file reflect?
Correct Answer
B) Under WAC 208-660-300, a licensed Washington loan originator may not hire employees or independent contractors to assist in the mortgage broker licensee's activities; only the mortgage broker licensee can have employees or independent contractors.
Under WAC 208-660-300, a licensed Washington loan originator may not hire employees or independent contractors to assist in the mortgage broker licensee's activities; only the mortgage broker licensee can have employees or independent contractors.
Why This Is the Correct Answer
Under WAC 208-660-300, a licensed Washington loan originator may not hire employees or independent contractors to assist in the mortgage broker licensee's activities; only the mortgage broker licensee can have employees or independent contractors.
More UST Questions
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