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In a Mississippi new-license application, a training manager sees a compliance issue involving licensing and NMLS authority. What should the file reflect?

Correct Answer

D) Mississippi mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.

Mississippi mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.

Answer Options
A
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.
B
Continue the activity and document the issue only if a complaint is later filed.
C
Let the MLO originate while waiting for the Mississippi status, sponsorship, or renewal issue to be corrected.
D
Mississippi mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.

Why This Is the Correct Answer

Mississippi mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.

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