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In a Kentucky new-license application, a quality-control reviewer sees a compliance issue involving licensing and NMLS authority. What should the file reflect?

Correct Answer

B) Kentucky DFI Mortgage Examination Branch examines licensed mortgage loan companies and mortgage loan brokers.

Kentucky DFI Mortgage Examination Branch examines licensed mortgage loan companies and mortgage loan brokers.

Answer Options
A
Use a loan-originator transfer exception instead of satisfying the rule before activity continues.
B
Kentucky DFI Mortgage Examination Branch examines licensed mortgage loan companies and mortgage loan brokers.
C
Close or renew first, then decide whether the loan-originator transfer 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 DFI Mortgage Examination Branch examines licensed mortgage loan companies and mortgage loan brokers.

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