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A lender preparing an Idaho new-license application asks an audit analyst about continuing education and renewal. Which response should be followed?

Correct Answer

C) Idaho mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.

Idaho mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.

Answer Options
A
Use a company policy update exception instead of satisfying the rule before activity continues.
B
Close or renew first, then decide whether the company policy update needs a compliance correction.
C
Idaho mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.
D
Proceed before the required Idaho license, sponsorship, disclosure, record, or approval is in place.

Why This Is the Correct Answer

Idaho mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.

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