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

Correct Answer

D) Iowa licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Iowa licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Answer Options
A
Delay the Iowa requirement until after the loan closes or the renewal period ends.
B
Treat consumer consent as a cure for a prohibited or missing compliance step.
C
Treat the timing or filing requirement as optional if the transaction appears low risk.
D
Iowa licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Why This Is the Correct Answer

Iowa licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

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