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For an Iowa supervisory file review, a sponsorship reviewer is training staff on sponsorship and employment status. Which answer should be used?

Correct Answer

D) Iowa MLO authority must be evaluated with the correct sponsor, company, branch, employer, or exempt-entity relationship.

Iowa MLO authority must be evaluated with the correct sponsor, company, branch, employer, or exempt-entity relationship.

Answer Options
A
Handle sponsorship and employment status with an informal note rather than the required license, disclosure, filing, or record.
B
Use another jurisdiction's approval as a substitute for the Iowa requirement.
C
Treat the requirement as waived because the borrower or employer agrees.
D
Iowa MLO authority must be evaluated with the correct sponsor, company, branch, employer, or exempt-entity relationship.

Why This Is the Correct Answer

Iowa MLO authority must be evaluated with the correct sponsor, company, branch, employer, or exempt-entity relationship.

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