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A lender preparing a Kentucky new-license application asks a training manager about licensing and NMLS authority. Which response should be followed?

Correct Answer

D) Kentucky licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Kentucky licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Answer Options
A
Postpone the Kentucky licensing and NMLS authority issue until the next annual review.
B
Use only the federal baseline and ignore the separate Kentucky state requirement.
C
Apply the rule only after the Kentucky regulator has already opened an examination.
D
Kentucky licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Why This Is the Correct Answer

Kentucky licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

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