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An audit analyst is updating Alabama procedures for NMLS filing review and flags licensing and NMLS authority. Which answer is accurate?

Correct Answer

B) Alabama Bureau of Loans administers and enforces Alabama mortgage lending and SAFE Act license requirements.

Alabama Bureau of Loans administers and enforces Alabama mortgage lending and SAFE Act license requirements.

Answer Options
A
Delay the Alabama requirement until after the loan closes or the renewal period ends.
B
Alabama Bureau of Loans administers and enforces Alabama mortgage lending and SAFE Act license requirements.
C
Treat consumer consent as a cure for a prohibited or missing compliance step.
D
Treat the timing or filing requirement as optional if the transaction appears low risk.

Why This Is the Correct Answer

Alabama Bureau of Loans administers and enforces Alabama mortgage lending and SAFE Act license requirements.

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