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A loan file reviewer compares company policy with Florida requirements during a renewal checklist. Which statement fits continuing education and renewal?

Correct Answer

A) Florida mortgage lenders must file required periodic reports, renewal information, financial information, and NMLS mortgage call reports when required by OFR or NMLS.

Florida mortgage lenders must file required periodic reports, renewal information, financial information, and NMLS mortgage call reports when required by OFR or NMLS.

Answer Options
A
Florida mortgage lenders must file required periodic reports, renewal information, financial information, and NMLS mortgage call reports when required by OFR or NMLS.
B
Treat continuing education and renewal as satisfied by borrower consent alone.
C
Delay the Florida requirement until after the loan closes or the renewal period ends.
D
Treat consumer consent as a cure for a prohibited or missing compliance step.

Why This Is the Correct Answer

Florida mortgage lenders must file required periodic reports, renewal information, financial information, and NMLS mortgage call reports when required by OFR or NMLS.

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