Mortgage Broker Practice Questions - Mortgage Broker License Exam

A mortgage brokerage owner wants to open a branch office in a neighboring state. What must the brokerage do FIRST?

Hire a branch manager with an active MLO license in that state Obtain a branch license in the new state through NMLS Transfer the existing state license to cover the new branch File a DBA (doing business as) in the new state

Correct Answer:

Obtain a branch license in the new state through NMLS

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