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A lender preparing an Iowa company policy update asks a quality-control reviewer about licensing and NMLS authority. Which response should be followed?

Correct Answer

B) Iowa mortgage branch or additional-location authority is separate from individual MLO authority when the state requires branch/location licensing or registration.

Iowa mortgage branch or additional-location authority is separate from individual MLO authority when the state requires branch/location licensing or registration.

Answer Options
A
Treat consumer consent as a cure for a prohibited or missing compliance step.
B
Iowa mortgage branch or additional-location authority is separate from individual MLO authority when the state requires branch/location licensing or registration.
C
Treat the timing or filing requirement as optional if the transaction appears low risk.
D
Assume the Iowa requirement does not apply to this renewal checklist.

Why This Is the Correct Answer

Iowa mortgage branch or additional-location authority is separate from individual MLO authority when the state requires branch/location licensing or registration.

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