Uniform State Test (UST) · 11% of the SAFE exammedium
Correct answer: The MLO may originate loans in Texas while their Texas license application is pending, provided they meet certain eligibility conditions
The SAFE Act's temporary authority to originate (TAO) provision allows a state-licensed MLO who is applying for a new state license — or a registered MLO transitioning to a state-licensed position — to originate loans in the new state while their application is pending, provided certain eligibility conditions are met (such as having no pending license denials, revocations, or criminal history issues). Automatic licensure upon transfer (C) does not exist. There is no state-specific 20-hour PE requirement for TAO (D). The MLO is not entirely blocked from originating during the application period (A is incorrect).
CRAM ARCADE has the full NMLS question bank, timed practice exams, focus drills on your weakest category, flashcards and spaced repetition. No credit card.
Start studying free