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In a Missouri annual compliance meeting, a compliance manager sees a compliance issue involving licensing and NMLS authority. What should the file reflect?

Correct Answer

D) Missouri residential mortgage originator licensing applies to owners of mortgage broker companies when they interact with consumers in processing mortgage applications.

Missouri residential mortgage originator licensing applies to owners of mortgage broker companies when they interact with consumers in processing mortgage applications.

Answer Options
A
Use another jurisdiction's approval as a substitute for the Missouri requirement.
B
Treat the requirement as waived because the borrower or employer agrees.
C
Assume another state's approval automatically satisfies the Missouri requirement.
D
Missouri residential mortgage originator licensing applies to owners of mortgage broker companies when they interact with consumers in processing mortgage applications.

Why This Is the Correct Answer

Missouri residential mortgage originator licensing applies to owners of mortgage broker companies when they interact with consumers in processing mortgage applications.

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