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A lender preparing an Iowa advertising approval asks a state compliance officer about licensing and NMLS authority. Which response should be followed?

Correct Answer

B) Iowa unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

Iowa unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

Answer Options
A
Continue the activity and document the issue only if a complaint is later filed.
B
Iowa unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.
C
Let the MLO originate while waiting for the Iowa status, sponsorship, or renewal issue to be corrected.
D
Let production staff decide whether licensing and NMLS authority matters for the file.

Why This Is the Correct Answer

Iowa unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

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