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An audit analyst documents a Montana regulator exam preparation and needs one rule for licensing and NMLS authority. Which statement belongs in the file?

Correct Answer

C) Montana says the MLO license is for any residential mortgage loan originator unless exempt under the Montana Mortgage Act.

Montana says the MLO license is for any residential mortgage loan originator unless exempt under the Montana Mortgage Act.

Answer Options
A
Let the MLO originate while waiting for the Montana status, sponsorship, or renewal issue to be corrected.
B
Let production staff decide whether licensing and NMLS authority matters for the file.
C
Montana says the MLO license is for any residential mortgage loan originator unless exempt under the Montana Mortgage Act.
D
Skip documentation because the disciplinary-risk review appears routine.

Why This Is the Correct Answer

Montana says the MLO license is for any residential mortgage loan originator unless exempt under the Montana Mortgage Act.

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