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An audit analyst documents a Connecticut record-retention audit and needs one rule for licensing and NMLS authority. Which statement belongs in the file?

Correct Answer

C) Connecticut mortgage licensing statutes define the individual loan originator and related mortgage license categories tested in Connecticut MLO compliance.

Connecticut mortgage licensing statutes define the individual loan originator and related mortgage license categories tested in Connecticut MLO compliance.

Answer Options
A
Treat licensing and NMLS authority as satisfied by borrower consent alone.
B
Delay the Connecticut requirement until after the loan closes or the renewal period ends.
C
Connecticut mortgage licensing statutes define the individual loan originator and related mortgage license categories tested in Connecticut MLO compliance.
D
Treat consumer consent as a cure for a prohibited or missing compliance step.

Why This Is the Correct Answer

Connecticut mortgage licensing statutes define the individual loan originator and related mortgage license categories tested in Connecticut MLO compliance.

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