A mortgage company asks a policy analyst to validate a Texas mortgage operations checklist involving continuing education and renewal. Which statement is reliable?
Correct Answer
A) Texas CE and renewal requirements apply as stated for the licensing year.
Texas OCCC renewal guidance opens the RMLO renewal period on November 1, closes regular renewal on December 31, and treats January 1 through February 28 as a reinstatement period with an added reinstatement cost.
Why This Is the Correct Answer
Texas CE and renewal requirements apply as stated for the licensing year. This is correct because Texas OCCC renewal guidance opens the RMLO renewal period on November 1, closes regular renewal on December 31, and treats January 1 through February 28 as a reinstatement period with an added reinstatement cost.
Why the Other Options Are Wrong
Option B: Assume the Texas requirement does not apply to this new-license application.
Assume the Texas requirement does not apply to this new-license application. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Treat continuing education and renewal as satisfied by borrower consent alone.
Treat continuing education and renewal as satisfied by borrower consent alone. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Delay the Texas requirement until after the loan closes or the renewal period ends.
Delay the Texas requirement until after the loan closes or the renewal period ends. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
TX -> tx-agency-scope-nmls-education-renewal
Exam Tip
Texas often tests the split between SML and OCCC, current NMLS TX-SML 23-hour PE, TX-OCCC 20-hour PE baseline, 8-hour CE, December 31 renewal timing, and the SAFE National Test with UST.
Common Mistakes to Avoid
- -Using a generic national answer when Texas has SML, OCCC, home-equity, or Finance Code rules
- -Confusing Texas-SML and Texas-OCCC education, licensing, renewal, and product-scope requirements
- -Treating Texas 50(a)(6), temporary authority, exemptions, records, advertisements, or enforcement rules as optional
More UST Questions
In a pricing desk question, an audit analyst sees facts tied to Prohibited Misrepresentation. What should the file reflect?
An applicant previously had an MLO license revoked by a state regulator. Under the SAFE Act minimum standards for a new state-licensed MLO license, which statement is correct?
Which statement correctly distinguishes a license suspension from a license revocation?
A state regulator has issued an order suspending an MLO's authority effective immediately. The MLO has filed an appeal, but no stay has been granted. What should the MLO do?
An MLO license application asks whether the applicant has been the subject of a regulatory order. The applicant has a recent consent order that falls within the question. What is the proper response?
Why does NMLS maintain licensing and enforcement information that participating regulators can access?
A regulator issues a final license suspension without giving the MLO notice of the alleged violation or any opportunity to respond, even though applicable law requires both. What issue is presented?
A regulator finds that an MLO charged consumers prohibited fees. Which set of actions is consistent with the enforcement tools contemplated by Regulation H?
An MLO's license status in NMLS changes to suspended, with no stay or reinstatement shown. What is the immediate operational effect?
Which fact most directly supports disciplinary action against an MLO rather than merely a request for additional application information?
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