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A mortgage company asks a policy analyst to validate a Hawaii supervisory file review involving licensing and NMLS authority. Which statement is reliable?

Correct Answer

C) Hawaii DFI administers applicable statutes and rules to protect borrowers, consumers, and the public in state-licensed mortgage activity.

Hawaii DFI administers applicable statutes and rules to protect borrowers, consumers, and the public in state-licensed mortgage activity.

Answer Options
A
Apply the rule only after the Hawaii regulator has already opened an examination.
B
Skip the Hawaii requirement because the company already follows general SAFE Act procedures.
C
Hawaii DFI administers applicable statutes and rules to protect borrowers, consumers, and the public in state-licensed mortgage activity.
D
Treat licensing and NMLS authority as optional because the company has a general Hawaii compliance policy.

Why This Is the Correct Answer

Hawaii DFI administers applicable statutes and rules to protect borrowers, consumers, and the public in state-licensed mortgage activity.

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