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A lender preparing a Connecticut renewal checklist asks a quality-control reviewer about licensing and NMLS authority. Which response should be followed?

Correct Answer

A) Connecticut Department of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Connecticut Department of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Answer Options
A
Connecticut Department of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.
B
Use an informal manager exception without updating the license, file, or required record.
C
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
D
Use a supervisory file review exception instead of satisfying the rule before activity continues.

Why This Is the Correct Answer

Connecticut Department of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

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