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An Iowa file is paused during a renewal checklist because of continuing education and renewal. Which statement clears the compliance question?

Correct Answer

B) Iowa MLO license renewal is tied to NMLS renewal processing and annual continuing education requirements.

Iowa MLO license renewal is tied to NMLS renewal processing and annual continuing education requirements.

Answer Options
A
Assume the Iowa requirement does not apply to this supervisory file review.
B
Iowa MLO license renewal is tied to NMLS renewal processing and annual continuing education requirements.
C
Treat continuing education and renewal as satisfied by borrower consent alone.
D
Delay the Iowa requirement until after the loan closes or the renewal period ends.

Why This Is the Correct Answer

Iowa MLO license renewal is tied to NMLS renewal processing and annual continuing education requirements.

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