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What is the definition of a principal loan originator (PLO)?

April 26, 2017definition loan Originator plo Principal

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What is the definition of a principal loan originator (PLO)?

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A principal loan originator means the licensed loan originator in charge of, and responsible for, the operation of a mortgage lender or mortgage broker. It includes all of the activities of the mortgage lenders or mortgage brokers loan originators and branch managers, whether employees or independent contractors. (F.S.