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Question # 46

Under the SAFE Act, temporary authority allows certain MLOs to originate loans while license applications are pending. Which condition must be met?

Options:

A.

Applicant must have at least 5 years’ experience in lending.

B.

Applicant must be moving from a bank-regulated MLO position to a state-licensed one.

C.

Applicant must have passed both federal and state exams prior to applying.

D.

Applicant must have no outstanding student loans.

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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)

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