Missouri License Law
Missouri licensees who engage in mortgage fraud (falsifying loan applications) may face:
AOnly a MREC warning
BFederal criminal charges, state disciplinary action, and license revocation✓ Correct
COnly civil fines
DNo consequences if the transaction closed
Explanation
Mortgage fraud is a federal crime (mail fraud, bank fraud, wire fraud). Missouri licensees can face federal prosecution, state criminal charges, MREC disciplinary action, and license revocation.
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