Question: Select the incorrect statement about Transitional Mortgage Loan Originator Licenses. An individual operating under this license must complete the New Jersey MLO requirements for full

Select the incorrect statement about Transitional Mortgage Loan Originator Licenses.

An individual operating under this license must complete the New Jersey MLO requirements for full licensure as a New Jersey mortgage loan originator

Loans originated while an originator is operating under the authority of a Transitional Mortgage Loan Originator License are invalid even if the individual's license is ultimately denied

A Transitional Mortgage Loan Originator license is only valid for

120

days from a complete application

A Transitional Mortgage Loan Originator license can be issued to an out

-

-

state mortgage loan originator

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