In a Texas annual compliance meeting, an operations lead sees a compliance issue involving licensing and NMLS authority. What should the file reflect?
Correct Answer
D) Texas RMLO exclusions are role-specific and do not allow blanket origination activity.
Texas RMLO licensing exclusions cover administrative or clerical tasks, certain real estate brokerage activity not compensated by a lender or mortgage entity, and other statutory carveouts; exemptions are role-specific and not blanket permission to originate.
Why This Is the Correct Answer
Texas RMLO licensing exclusions cover administrative or clerical tasks, certain real estate brokerage activity not compensated by a lender or mortgage entity, and other statutory carveouts; exemptions are role-specific and not blanket permission to originate.
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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