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Before approving the supervisory file review, a Mississippi audit analyst checks licensing and NMLS authority. Which conclusion is best supported?

Correct Answer

A) Mississippi DBCF regulates mortgage brokers, mortgage lenders and servicers, and mortgage loan originators operating in Mississippi under the Mississippi S.A.F.E. Mortgage Act.

Mississippi DBCF regulates mortgage brokers, mortgage lenders and servicers, and mortgage loan originators operating in Mississippi under the Mississippi S.A.F.E. Mortgage Act.

Answer Options
A
Mississippi DBCF regulates mortgage brokers, mortgage lenders and servicers, and mortgage loan originators operating in Mississippi under the Mississippi S.A.F.E. Mortgage Act.
B
Handle licensing and NMLS authority with an informal note rather than the required license, disclosure, filing, or record.
C
Use another jurisdiction's approval as a substitute for the Mississippi requirement.
D
Treat the requirement as waived because the borrower or employer agrees.

Why This Is the Correct Answer

Mississippi DBCF regulates mortgage brokers, mortgage lenders and servicers, and mortgage loan originators operating in Mississippi under the Mississippi S.A.F.E. Mortgage Act.

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