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During a Connecticut loan-originator transfer, a compliance manager must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

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

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

Answer Options
A
Connecticut state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.
B
Apply the Connecticut rule only to company licenses and never to individual MLO activity.
C
Handle licensing and NMLS authority with an informal note rather than the required license, disclosure, filing, or record.
D
Use another jurisdiction's approval as a substitute for the Connecticut requirement.

Why This Is the Correct Answer

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

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