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A licensing coordinator is updating Kentucky procedures for record-retention audit and flags licensing and NMLS authority. Which answer is accurate?

Correct Answer

C) KRS Chapter 286.8 defines mortgage loan originator and other Kentucky mortgage company and broker terms.

KRS Chapter 286.8 defines mortgage loan originator and other Kentucky mortgage company and broker terms.

Answer Options
A
Handle licensing and NMLS authority with an informal note rather than the required license, disclosure, filing, or record.
B
Use another jurisdiction's approval as a substitute for the Kentucky requirement.
C
KRS Chapter 286.8 defines mortgage loan originator and other Kentucky mortgage company and broker terms.
D
Treat the requirement as waived because the borrower or employer agrees.

Why This Is the Correct Answer

KRS Chapter 286.8 defines mortgage loan originator and other Kentucky mortgage company and broker terms.

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