The employee is the seller for a borrower's purchase mortgage.
The employee resides with the borrower.
The employee has financial interest in the transaction.
All of the Above
The Loan Officer may input the application into the LOS, but may not pull credit and must list another licensed Loan Officer as the Loan Officer of record.
The Loan Officer may input the application into the LOS, may pull credit, but then must have the processor complete the required documentation and disclosures.
The Loan Officer may not originate the loan either directly or indirectly and must submit an application to any other licensed Loan Officer in the company.
The Loan Officer may pull credit, but must provide the application to another licensed Loan Officer for input into the LOS.