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Key Consumer LinksNews & Info LinksLast updated: Jun 20, 2022 @ 10:44 am Which of the following is responsible for overseeing licensure and registration for Michigan mortgage professionals?The Office of Consumer Finance is responsible for issuing licenses and registrations to over 13,000 mortgage and consumer finance entities doing business in Michigan.
What is a consumer loan company?A consumer finance company is any non-bank lender offering loans to consumers. Private financial institutions, retail lending, and other non-bank financing services all fall under this umbrella.
What is the required reinstatement fee for MLOS Washington?Inactive registrations must be reactivated in order to have an “Active” registration status. NMLS requires a $30 processing fee for each MLO seeking to renew or reactivate a registration.
Which of the following is not a part of the definition of a loan originator?The answer is person or entity that only performs real estate brokerage activities. Real estate brokerage activities are not considered within the definition of a loan originator.
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