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A state compliance officer handling a Florida loan-originator transfer needs the compliant answer for licensing and NMLS authority. What should the reviewer choose?

Correct Answer

C) Florida mortgage lenders need branch-office authority for mortgage lender branch locations and must keep office and branch information current with OFR/NMLS.

Florida mortgage lenders need branch-office authority for mortgage lender branch locations and must keep office and branch information current with OFR/NMLS.

Answer Options
A
Continue the activity and document the issue only if a complaint is later filed.
B
Let the MLO originate while waiting for the Florida status, sponsorship, or renewal issue to be corrected.
C
Florida mortgage lenders need branch-office authority for mortgage lender branch locations and must keep office and branch information current with OFR/NMLS.
D
Let production staff decide whether licensing and NMLS authority matters for the file.

Why This Is the Correct Answer

Florida mortgage lenders need branch-office authority for mortgage lender branch locations and must keep office and branch information current with OFR/NMLS.

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