For a Texas NMLS filing review, a policy analyst is training staff on continuing education and renewal. Which answer should be used?
Correct Answer
D) 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?
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