What is the minimum net worth requirement for a mortgage loan originator company under the SAFE Act?
Correct Answer
A) $25,000
Under the SAFE Act, mortgage loan originator companies must maintain a minimum net worth of $25,000. This requirement ensures the company has sufficient financial resources to operate responsibly.
Why This Is the Correct Answer
Under the SAFE Act, mortgage loan originator companies must maintain a minimum net worth of $25,000. This requirement ensures the company has sufficient financial resources to operate responsibly.
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