MLO Vermont State Laws questions with correct answers

Department of Financial Regulation Answer state regulatory agency responsible for oversight of VT financial service industry Who leads Department of Financial regulation? Answer Commissioner NMLS Answer Nationwide Mortgage Licensing System and Registry The Vermont Banking Division Answer within Department of Financial Regulation, also supervises, regulates, and examines Lenders, Mortgage brokers, and MLOs VT License Law for MLO's can be found Answer Chapter 73 Title 8 of the VT statutes annotated Lender License Answer Required by any company or person engages in the business of making loans (Secure, unsecured, mortgage, and commercial loans) Mortgage Broker License Answer a person or company who negotiates, assists, or finds mortgage loans, other than commercial loans Mortgage Broker Sole Proprietor License Answer issued to a person who engages in 5 or fewer loans per calendar year