Finance
In Arizona, mortgage loan originators (MLOs) who work for non-bank lenders must be licensed under:
AOnly the Arizona real estate license law
BThe SAFE Act and be registered in the NMLS (Nationwide Multistate Licensing System & Registry)✓ Correct
COnly the federal banking regulators
DNAR's mortgage originator program
Explanation
The SAFE Mortgage Licensing Act requires mortgage loan originators at non-bank entities (mortgage companies) to be state-licensed through NMLS. MLOs at federally regulated banks (banks, thrifts, credit unions) must be NMLS-registered.
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