Which of the following actions may adversely affect an applicant's chances of obtaining a mortgage license?

Having previous legal issues or misconduct can significantly impact an applicant's chances of obtaining a mortgage license because licensing authorities often conduct thorough background checks on all applicants. If an individual has a history of legal troubles, such as felonies, financial misconduct, or regulatory violations, it raises concerns about their trustworthiness, ethical standards, and ability to comply with the laws and regulations governing mortgage lending. Agencies prioritize responsible and ethical conduct in the profession, and any past behavior that suggests a disregard for legal requirements may be viewed as a red flag.

In contrast, possessing a college degree is generally seen as a positive attribute, indicating a level of education that can be beneficial in the field. Conducting business in multiple states, while it may involve additional regulatory considerations, is not inherently detrimental to an applicant's licensing eligibility, as many professionals successfully manage multi-state operations under proper licensing. Furthermore, having a professional network is advantageous for facilitating business and establishing credibility in the industry. Thus, previous legal issues or misconduct stands out as the most likely action that could adversely affect an applicant's chance of securing a mortgage license.