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Study Guide For the Mortgage Loan Originator (Florida Component) UPDATED ACTUAL Exam Questions and CORRECT Answers

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Institution Mortgage Loan Originator
Course Mortgage Loan Originator
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Study Guide For the Mortgage Loan Originator (Florida Component) UPDATED ACTUAL Exam Questions and CORRECT Answers The registry form that must be used for branch office is the: - CORRECT ANSWER MU3 The registry that must be used for a non-licensed control person is the: - CORRECT ANSWER - MU2 When would a person convicted of arson not be eligible for licensure? - CORRECT ANSWER - For a least 15 years from the trigger date.

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Study Guide For the Mortgage Loan
Originator (Florida Component) UPDATED
ACTUAL Exam Questions and CORRECT
Answers
The registry form that must be used for branch office is the: - CORRECT ANSWER -
MU3


The registry that must be used for a non-licensed control person is the: - CORRECT
ANSWER - MU2


When would a person convicted of arson not be eligible for licensure? - CORRECT
ANSWER - For a least 15 years from the trigger date.


A mortgage lender without a servicing endorsement requires a net worth of: - CORRECT
ANSWER - 63,000.00


A mortgage lender without a servicing endorsement may only service a loan for: - CORRECT
ANSWER - 6 months


A branch manager of a mortgage broker must have how many years of experience? - CORRECT
ANSWER - A branch manager needs no experience



A non-institutional investors must be given: - CORRECT ANSWER - - The original
recorded mortgage and note
-An appraisal report unless this requirement is waived in writing.
-A title insurance policy or opinion of title


Any individual that invests in mortgage loans with his/her own funds but is not an institutional
investor: - CORRECT ANSWER - is exempt from licensure under FS 494

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