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A licensing coordinator compares company policy with Idaho requirements during an NMLS filing review. Which statement fits licensing and NMLS authority?

Correct Answer

C) 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
Treat licensing and NMLS authority as optional because the company has a general Idaho compliance policy.
B
Postpone the Idaho licensing and NMLS authority issue until the next annual review.
C
Idaho mortgage broker/lender and related company authority is regulated under the Idaho Residential Mortgage Practices Act for Idaho residential mortgage activity.
D
Use only the federal baseline and ignore the separate Idaho state requirement.

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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