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A lender preparing a Kentucky advertising approval asks a sponsorship reviewer about licensing and NMLS authority. Which response should be followed?

Correct Answer

B) Kentucky state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Kentucky state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Answer Options
A
Skip the Kentucky requirement because the company already follows general SAFE Act procedures.
B
Kentucky state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.
C
Treat sponsorship and employment status as optional because the company has a general Kentucky compliance policy.
D
Postpone the Kentucky sponsorship and employment status issue until the next annual review.

Why This Is the Correct Answer

Kentucky state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

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