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A compliance manager is updating Mississippi procedures for annual compliance meeting and flags licensing and NMLS authority. Which answer is accurate?

Correct Answer

A) Mississippi license status for mortgage companies or individuals can be verified through NMLS Consumer Access or the state regulator's license-lookup channel.

Mississippi license status for mortgage companies or individuals can be verified through NMLS Consumer Access or the state regulator's license-lookup channel.

Answer Options
A
Mississippi license status for mortgage companies or individuals can be verified through NMLS Consumer Access or the state regulator's license-lookup channel.
B
Treat the requirement as waived because the borrower or employer agrees.
C
Assume another state's approval automatically satisfies the Mississippi requirement.
D
Apply the Mississippi rule only to company licenses and never to individual MLO activity.

Why This Is the Correct Answer

Mississippi license status for mortgage companies or individuals can be verified through NMLS Consumer Access or the state regulator's license-lookup channel.

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