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In New Jersey, a company audit of an examiner response depends on the state-specific MLO rule. Which answer is the safest?

Correct Answer

B) New Jersey real estate licensees do not need an MLO license solely for non-mortgage real-estate activity.

A person licensed as a New Jersey real estate broker or salesperson does not need a New Jersey MLO license solely for that role if not engaged in residential mortgage lender or broker business.

Answer Options
A
Apply a familiar federal rule and skip the the state-specific MLO rule condition.
B
New Jersey real estate licensees do not need an MLO license solely for non-mortgage real-estate activity.
C
Assume company licensing cures the individual-file issue.
D
Use the compliance manager's informal note instead of the state rule.

Why This Is the Correct Answer

A person licensed as a New Jersey real estate broker or salesperson does not need a New Jersey MLO license solely for that role if not engaged in residential mortgage lender or broker business.

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