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During a Kentucky MLO sponsorship update, a training manager must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

C) Kentucky DFI licenses mortgage bankers, servicers, and brokers to make, purchase, buy, sell, service, and broker Kentucky residential mortgages.

Kentucky DFI licenses mortgage bankers, servicers, and brokers to make, purchase, buy, sell, service, and broker Kentucky residential mortgages.

Answer Options
A
Treat the timing or filing requirement as optional if the transaction appears low risk.
B
Assume the Kentucky requirement does not apply to this record-retention audit.
C
Kentucky DFI licenses mortgage bankers, servicers, and brokers to make, purchase, buy, sell, service, and broker Kentucky residential mortgages.
D
Treat sponsorship and employment status as satisfied by borrower consent alone.

Why This Is the Correct Answer

Kentucky DFI licenses mortgage bankers, servicers, and brokers to make, purchase, buy, sell, service, and broker Kentucky residential mortgages.

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