A compliance manager is updating Texas procedures for NMLS filing review and flags continuing education and renewal. Which answer is accurate?
Correct Answer
B) Apply the Texas SML/OCCC authority split by employer, product, and activity.
Texas SML generally licenses residential mortgage loan originators working for mortgage companies or mortgage bankers, while Texas OCCC generally licenses RMLOs tied to regulated consumer-credit activity such as secondary mortgage and home-equity lending, subject to statutory scope.
Why This Is the Correct Answer
Texas SML generally licenses residential mortgage loan originators working for mortgage companies or mortgage bankers, while Texas OCCC generally licenses RMLOs tied to regulated consumer-credit activity such as secondary mortgage and home-equity lending, subject to statutory scope.
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?
A renewal specialist is updating Missouri procedures for supervisory file review and flags licensing and NMLS authority. Which answer is accurate?
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A mortgage company asks a policy analyst to validate a Missouri branch onboarding review involving licensing and NMLS authority. Which statement is reliable?
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