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An Iowa file is paused during an annual compliance meeting because of licensing and NMLS authority. Which statement clears the compliance question?

Correct Answer

D) Iowa Division of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Iowa Division of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Answer Options
A
Use an informal manager exception without updating the license, file, or required record.
B
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
C
Use a training scenario exception instead of satisfying the rule before activity continues.
D
Iowa Division of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Why This Is the Correct Answer

Iowa Division of Banking has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

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