West Virginia Mortgage Law Practice Test

The correct choice is that Janice will need a license as a mortgage loan originator. A mortgage loan originator is responsible for working directly with borrowers; this includes discussing loan terms and assisting them in completing loan applications. This position requires specialized training and licensing because it involves soliciting and processing mortgages, which has regulatory implications to protect consumers. While a loan processor and a mortgage underwriter also play critical roles in the mortgage industry, their responsibilities differ. A loan processor typically organizes and prepares the necessary documents for the loan process after it has been initiated, and they do not engage directly with borrowers in the same way. A mortgage underwriter assesses the risk of offering a loan and typically does not interact with borrowers. The role of a loan servicer is primarily about managing the mortgage accounts after they have been closed, attending to payments and customer inquiries rather than initial loan origination and application processes. Thus, for Janice's responsibilities involving direct borrower interaction regarding loans, the mortgage loan originator license is required.