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A branch supervisor is updating Kentucky procedures for NMLS filing review and flags licensing and NMLS authority. Which answer is accurate?

Correct Answer

A) Kentucky Department of Financial Institutions may take enforcement action for violations of Kentucky mortgage licensing laws, rules, orders, or NMLS requirements.

Kentucky Department of Financial Institutions may take enforcement action for violations of Kentucky mortgage licensing laws, rules, orders, or NMLS requirements.

Answer Options
A
Kentucky Department of Financial Institutions may take enforcement action for violations of Kentucky mortgage licensing laws, rules, orders, or NMLS requirements.
B
Apply the Kentucky rule only to company licenses and never to individual MLO activity.
C
Handle licensing and NMLS authority with an informal note rather than the required license, disclosure, filing, or record.
D
Use another jurisdiction's approval as a substitute for the Kentucky requirement.

Why This Is the Correct Answer

Kentucky Department of Financial Institutions may take enforcement action for violations of Kentucky mortgage licensing laws, rules, orders, or NMLS requirements.

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