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Question # 2

If an MLO fails to maintain financial responsibility, character, or general fitness, what action may a state regulator take?

Options:

A.

Require the MLO to work only for federally regulated institutions

B.

Suspend or revoke the MLO’s license

C.

Reduce the MLO’s CE requirements

D.

Assign the MLO to limited origination duties

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NMLS Overview

Name SAFE Mortgage Loan Originator
Code NMLS
Vendor Finance, Insurance and Real Est
Certification Nationwide Multistate Licensing System (NMLS)

NMLS Questions