A mortgage broker is prohibited from recording a mortgage or deed of trust
for which the backing money is not immediately available to the mortgagor,
unless:
(A) the broker gets written authorization from the superintendent
(B) before recording the mortgage or deed, the broker notifies the mo...
Contract processors and underwriters licensed as an MLO may work for how
many entities?
(A) 2
(B) as many as they want
(C) only 1
(D) 1 licensed entity and 1 registered entity
✓ ~~> (B) as many as they want
Job functions such as taking residential mortgage loan applications or
offering or negotiating terms of a residential mortgage loan for
compensation or gain, represent the functions of which person in the
mortgage industry?
(A) MLO
(B) processor
(C) underwriter
(D) closing agent
✓ ~~> (A) MLO
Master01 | September, 2024/2025 | Latest update
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