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An Idaho file is paused during a loan-originator transfer because of continuing education and renewal. Which statement clears the compliance question?

Correct Answer

C) Idaho mortgage licensing includes surety bond, recovery fund, net worth, or financial responsibility coverage as required by state law or regulator guidance.

Idaho mortgage licensing includes surety bond, recovery fund, net worth, or financial responsibility coverage as required by state law or regulator guidance.

Answer Options
A
Apply the Idaho rule only to company licenses and never to individual MLO activity.
B
Handle continuing education and renewal with an informal note rather than the required license, disclosure, filing, or record.
C
Idaho mortgage licensing includes surety bond, recovery fund, net worth, or financial responsibility coverage as required by state law or regulator guidance.
D
Use another jurisdiction's approval as a substitute for the Idaho requirement.

Why This Is the Correct Answer

Idaho mortgage licensing includes surety bond, recovery fund, net worth, or financial responsibility coverage as required by state law or regulator guidance.

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