If a mortgage loan originator's license is revoked in another state, what must they do?

• A. Notify the DRE within ten business days
• B. Apply for a new license in 60 days
• C. Notify the DRE within ten business days
• D. Continue to transact business with no notification

Answer: (C)

When a mortgage loan originator’s license is revoked in another state, you must promptly inform the Utah Division of Real Estate (DRE) within ten business days. This requirement keeps your licensure record accurate and lets the regulator assess any risk to consumers or the profession based on actions taken in another jurisdiction. It helps protect the public and maintains consistency in licensing across states.

The other options aren’t correct because applying for a new license after a revocation isn’t automatically required or guaranteed within a set timeframe, continuing to transact without notifying is not allowed, and the obligation to notify is not optional.