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A Kentucky audit analyst is reviewing a state-law refresher tied to continuing education and renewal. Which rule should be applied?

Correct Answer

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

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

Answer Options
A
Close or renew first, then decide whether the MLO sponsorship update needs a compliance correction.
B
Kentucky mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.
C
Proceed before the required Kentucky license, sponsorship, disclosure, record, or approval is in place.
D
Use an informal manager exception without updating the license, file, or required record.

Why This Is the Correct Answer

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

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