Finance
Under the SAFE Act, mortgage loan originators (MLOs) in Oregon must:
AHold a real estate broker license
BBe licensed through the Nationwide Multistate Licensing System (NMLS)✓ Correct
CComplete 150 hours of pre-license education
DBe employed only by federally chartered banks
Explanation
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires mortgage loan originators to register with or obtain a license through the Nationwide Multistate Licensing System (NMLS). Oregon's Division of Financial Regulation administers MLO licensing.
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