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A mortgage company asks a training manager to validate a Kentucky record-retention audit involving licensing and NMLS authority. Which statement is reliable?

Correct Answer

A) Kentucky state mortgage law or regulator guidance distinguishes licensed state MLO activity from exempt or federally registered mortgage activity.

Kentucky state mortgage law or regulator guidance distinguishes licensed state MLO activity from exempt or federally registered mortgage activity.

Answer Options
A
Kentucky state mortgage law or regulator guidance distinguishes licensed state MLO activity from exempt or federally registered mortgage activity.
B
Skip the Kentucky requirement because the company already follows general SAFE Act procedures.
C
Treat licensing and NMLS authority as optional because the company has a general Kentucky compliance policy.
D
Postpone the Kentucky licensing and NMLS authority issue until the next annual review.

Why This Is the Correct Answer

Kentucky state mortgage law or regulator guidance distinguishes licensed state MLO activity from exempt or federally registered mortgage activity.

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