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A lender preparing an Idaho state-law refresher asks a licensing coordinator about licensing and NMLS authority. Which response should be followed?

Correct Answer

D) Idaho mortgage broker/lender and related company authority is regulated under the Idaho Residential Mortgage Practices Act for Idaho residential mortgage activity.

Idaho mortgage broker/lender and related company authority is regulated under the Idaho Residential Mortgage Practices Act for Idaho residential mortgage activity.

Answer Options
A
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.
B
Continue the activity and document the issue only if a complaint is later filed.
C
Let the MLO originate while waiting for the Idaho status, sponsorship, or renewal issue to be corrected.
D
Idaho mortgage broker/lender and related company authority is regulated under the Idaho Residential Mortgage Practices Act for Idaho residential mortgage activity.

Why This Is the Correct Answer

Idaho mortgage broker/lender and related company authority is regulated under the Idaho Residential Mortgage Practices Act for Idaho residential mortgage activity.

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