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A Kentucky quality-control reviewer is reviewing a loan-originator transfer tied to licensing and NMLS authority. Which rule should be applied?

Correct Answer

A) Kentucky mortgage company authority may include broker, lender, banker, servicer, or related residential mortgage activities as defined by state law or regulator guidance.

Kentucky mortgage company authority may include broker, lender, banker, servicer, or related residential mortgage activities as defined by state law or regulator guidance.

Answer Options
A
Kentucky mortgage company authority may include broker, lender, banker, servicer, or related residential mortgage activities as defined by state law or regulator guidance.
B
Use a new-license application exception instead of satisfying the rule before activity continues.
C
Close or renew first, then decide whether the new-license application needs a compliance correction.
D
Proceed before the required Kentucky license, sponsorship, disclosure, record, or approval is in place.

Why This Is the Correct Answer

Kentucky mortgage company authority may include broker, lender, banker, servicer, or related residential mortgage activities as defined by state law or regulator guidance.

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