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A mortgage company asks a compliance manager to validate a North Carolina advertising approval involving sponsorship and employment status. Which statement is reliable?

Correct Answer

D) The NC MLO license authorizes an individual to act as an MLO for licensed or registered mortgage entities.

The NC MLO license authorizes an individual to act as an MLO for licensed or registered mortgage entities. The North Carolina mortgage loan originator license authorizes an individual to act as an MLO on behalf of licensed or registered mortgage entities.

Answer Options
A
Treat sponsorship and employment status as optional because the company has a general North Carolina compliance policy.
B
Postpone the North Carolina sponsorship and employment status issue until the next annual review.
C
Use only the federal baseline and ignore the separate North Carolina state requirement.
D
The NC MLO license authorizes an individual to act as an MLO for licensed or registered mortgage entities.

Why This Is the Correct Answer

The NC MLO license authorizes an individual to act as an MLO for licensed or registered mortgage entities. The North Carolina mortgage loan originator license authorizes an individual to act as an MLO on behalf of licensed or registered mortgage entities.

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