I am a sales person for a licensed Mobile Home dealer, are there any mortgage loan origination activities (described in Q. 1 above) I can engage in without having an effective MLO license?
NC SAFE limits a sales person for a licensed mobile home dealer’s involvement in the loan process to physically handling or transmitting to a licensed Mortgage Loan Originator an application that has already been completed by a prospective borrower with no assistance from the sales person. At the written request of a licensed MLO, and after the prospective borrower has completed the application, a sales person may pull and transmit the prospective borrower’s credit report to the MLO.
Related Questions
- I am a sales person for a licensed Mobile Home dealer, are there any mortgage loan origination activities (described in Q. 1 above) I can engage in without having an effective MLO license?
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