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Can the PLO, control person or the branch manager be held responsible for the actions of a loan originator?

April 26, 2017Actions branch CONTROL held loan manager Originator person plo responsible

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Can the PLO, control person or the branch manager be held responsible for the actions of a loan originator?

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A principal loan originator or branch manager is subject to the disciplinary actions for violations by a loan originator if there is a pattern of repeated violations by the loan originator or if the principal loan originator has knowledge of the violations. (F.S.494.00255(4) & (6). An individual who is associated with the mortgage entity is subject to the disciplinary actions for a violation with respect to an action in which such person was involved.