EstatePass
USThard11% of exam

During a Connecticut annual compliance meeting, a compliance manager must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

B) Connecticut unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

Connecticut unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

Answer Options
A
Postpone the Connecticut licensing and NMLS authority issue until the next annual review.
B
Connecticut unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.
C
Use only the federal baseline and ignore the separate Connecticut state requirement.
D
Apply the rule only after the Connecticut regulator has already opened an examination.

Why This Is the Correct Answer

Connecticut unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing