Final answer:
A loan originator not working for a Federally Insured institution is required to obtain a state license to comply with the SAFE Act's regulations.
Step-by-step explanation:
A loan originator not working for a Federally Insured institution must obtain a state license. The correct answer is A. A state license.
The Safe and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires loan originators who work for non-federally insured institutions, such as certain private lenders and mortgage companies, to be licensed by the state in which they operate. This is to ensure they meet certain professional requirements, including education, testing, and background checks. By contrast, loan originators who work for federally regulated banks or institutions are required to register federally but are not required to obtain a state license.