Which Utah division administers mortgage licensing and enforcement for PLMs?

• A. Utah Department of Commerce
• B. Utah Division of Real Estate (DRE)
• C. Utah Division of Financial Institutions
• D. Utah Division of Professional Licensing

Answer: (B)

The division that handles mortgage licensing and enforcement for PLMs is the Utah Division of Real Estate. This division is responsible for issuing licenses, setting education and experience requirements, and enforcing statutes related to real estate and mortgage lending professionals, including principal lending managers. The Department of Commerce is the umbrella agency that houses multiple divisions, but the actual licensing work for PLMs sits with the Division of Real Estate. The Division of Financial Institutions focuses on banks and other financial institutions rather than individual mortgage professionals, and the Division of Professional Licensing oversees a broad range of other professions, not PLMs. So the Division of Real Estate is the correct authority for PLM licensing and enforcement, including licensure, compliance, and disciplinary actions.