What fee is associated with a change in control of a licensee?

What fee is associated with a change in control of a licensee?

• A. 200
• B. 250
• C. 500
• D. 1000

Answer: (C)

The fee associated with a change in control of a licensee is correctly identified as $500. This fee is essential because it covers the administrative processes involved in reviewing and processing the change. A "change in control" can occur through various means, such as shifts in ownership, significant organizational changes, or new key personnel. The fee helps ensure that the regulatory body can adequately conduct necessary background checks and assessments to maintain oversight and uphold the integrity of the mortgage lending industry. By implementing such fees, regulatory agencies can manage the paperwork and scrutiny involved in confirming that the new controlling parties meet all regulatory standards and are suitable to hold such a position within the industry. The amounts for the other options do not correspond to the established fee structure for this specific regulatory occurrence. This ensures clarity and consistency in processing changes, which is critical in maintaining the trust and safety of the lending environment.

The fee associated with a change in control of a licensee is correctly identified as $500. This fee is essential because it covers the administrative processes involved in reviewing and processing the change. A "change in control" can occur through various means, such as shifts in ownership, significant organizational changes, or new key personnel.

The fee helps ensure that the regulatory body can adequately conduct necessary background checks and assessments to maintain oversight and uphold the integrity of the mortgage lending industry. By implementing such fees, regulatory agencies can manage the paperwork and scrutiny involved in confirming that the new controlling parties meet all regulatory standards and are suitable to hold such a position within the industry.

The amounts for the other options do not correspond to the established fee structure for this specific regulatory occurrence. This ensures clarity and consistency in processing changes, which is critical in maintaining the trust and safety of the lending environment.