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Which statement best reflects Idaho mortgage recordkeeping duties for state-regulated licensees?

Correct Answer

C) Idaho licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Idaho licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Answer Options
A
Idaho: Mortgage records may be discarded as soon as a loan is sold or servicing is transferred.
B
Idaho: Surety bond, reporting, notice, and examination duties arise only after a consumer complaint has already been filed.
C
Idaho licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.
D
Idaho: The state regulator cannot examine records if the company also files information through NMLS.

Why This Is the Correct Answer

Idaho licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

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