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An Alabama file is paused during a mortgage operations checklist because of licensing and NMLS authority. Which statement clears the compliance question?

Correct Answer

B) Alabama state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Alabama state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Answer Options
A
Use an informal manager exception without updating the license, file, or required record.
B
Alabama state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.
C
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
D
Use a training scenario exception instead of satisfying the rule before activity continues.

Why This Is the Correct Answer

Alabama state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

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