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A Florida file is paused during a record-retention audit because of licensing and NMLS authority. Which statement clears the compliance question?

Correct Answer

A) Florida mortgage broker businesses need branch-office authority for branch locations and must keep branch, address, and office information current with OFR/NMLS.

Florida mortgage broker businesses need branch-office authority for branch locations and must keep branch, address, and office information current with OFR/NMLS.

Answer Options
A
Florida mortgage broker businesses need branch-office authority for branch locations and must keep branch, address, and office information current with OFR/NMLS.
B
Use only the federal baseline and ignore the separate Florida state requirement.
C
Apply the rule only after the Florida regulator has already opened an examination.
D
Skip the Florida requirement because the company already follows general SAFE Act procedures.

Why This Is the Correct Answer

Florida mortgage broker businesses need branch-office authority for branch locations and must keep branch, address, and office information current with OFR/NMLS.

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