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A lender preparing an Iowa loan-originator transfer asks a state compliance officer about continuing education and renewal. Which response should be followed?

Correct Answer

C) Iowa Division of Banking says applications and amendments can be submitted in NMLS to maintain a license.

Iowa Division of Banking says applications and amendments can be submitted in NMLS to maintain a license.

Answer Options
A
Apply the rule only after the Iowa regulator has already opened an examination.
B
Skip the Iowa requirement because the company already follows general SAFE Act procedures.
C
Iowa Division of Banking says applications and amendments can be submitted in NMLS to maintain a license.
D
Treat continuing education and renewal as optional because the company has a general Iowa compliance policy.

Why This Is the Correct Answer

Iowa Division of Banking says applications and amendments can be submitted in NMLS to maintain a license.

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