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An audit analyst documents an Alabama state-law refresher and needs one rule for licensing and NMLS authority. Which statement belongs in the file?

Correct Answer

A) 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
Alabama state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.
B
Continue the activity and document the issue only if a complaint is later filed.
C
Let the MLO originate while waiting for the Alabama status, sponsorship, or renewal issue to be corrected.
D
Let production staff decide whether licensing and NMLS authority matters for the file.

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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