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During an Alabama renewal checklist, a training manager must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

B) Alabama Bureau of Loans administers and enforces the Alabama Mortgage Brokers Licensing Act and Alabama SAFE Act.

Alabama Bureau of Loans administers and enforces the Alabama Mortgage Brokers Licensing Act and Alabama SAFE Act.

Answer Options
A
Use another jurisdiction's approval as a substitute for the Alabama requirement.
B
Alabama Bureau of Loans administers and enforces the Alabama Mortgage Brokers Licensing Act and Alabama SAFE Act.
C
Treat the requirement as waived because the borrower or employer agrees.
D
Assume another state's approval automatically satisfies the Alabama requirement.

Why This Is the Correct Answer

Alabama Bureau of Loans administers and enforces the Alabama Mortgage Brokers Licensing Act and Alabama SAFE Act.

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