Which one of the following is true regarding the responsibilities of the OFR?
1) The OFR does not have the power to suspend or revoke a Florida MLO's license.
2) The OFR may only investigate MLOs who reside in the state of Florida.
3) The OFR may only investigate potential violations if a formal complaint has been made.
4) The OFR must report any violations to the NMLS on a regular basis.