2) Explain 2 examples of the subsidiary legislation. |
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- 7 Under SAFE Act regulations, which of the following statements is true? A Loan processors and originators have to be ● licensed as mortgage loan originators (MLOs). BO Loan processors and underwriters have to be licensed as MLOs. (CO Loan processors and underwriters who are not employed by a bank (depository institution) have to be licensed as MLOs. A loan processor or underwriter who is an employee of a licensed mortgage lender and who operates under the supervision of a licensed MLO is not required to be licensed as an7 Under SAFE Act regulations, which of the following statements is true? ● A Loan processors and originators have to be licensed as mortgage loan originators (MLOS). BO Loan processors and underwriters have to be licensed as MLOS. (C O Loan processors and underwriters who are not employed by a bank (depository institution) have to be licensed as MLOS. A loan processor or underwriter who is an employee of a licensed mortgage lender and who operates under the supervision of a licensed MLO is not required to be licensed as an1. Explain all parts of Consumer Protection Act?
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