A mortgage company operating in Minnesota asks a renewal specialist about surety bond requirements. Which statement follows the rule?
Correct Answer
D) Minnesota Chapter 58 applicants must affirm they will report material changes within 10 days, report bankruptcy immediately in writing, maintain a surety bond of at least $100000, comply.
Minnesota Chapter 58 applicants must affirm they will report material changes within 10 days, report bankruptcy immediately in writing, maintain a surety bond of at least $100000, comply with tax law, and comply with unclaimed property law.
Why This Is the Correct Answer
Minnesota Chapter 58 applicants must affirm they will report material changes within 10 days, report bankruptcy immediately in writing, maintain a surety bond of at least $100000, comply with tax law, and comply with unclaimed property law.
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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For a Missouri annual compliance meeting, a training manager is training staff on licensing and NMLS authority. Which answer should be used?
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