Finance
Under the Alabama Mortgage Brokers Act, individuals who broker mortgage loans must:
AHold a real estate salesperson license
BBe licensed by the Alabama State Banking Department✓ Correct
COnly obtain approval from AREC
DNo license is required for mortgage brokering
Explanation
Mortgage brokers in Alabama must be licensed by the Alabama State Banking Department under the Alabama Mortgage Brokers Act. A real estate license alone does not authorize mortgage brokering activities.
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