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An applicant asks whether the North Carolina application can bypass NMLS. What is the best conclusion under North Carolina MLO law or NCCOB guidance?

Correct Answer

D) NC MLO applications are filed through NMLS and must include information required by the Commissioner.

NC MLO applications are filed through NMLS and must include information required by the Commissioner. North Carolina MLO applications are filed through NMLS and must contain the information required by the Commissioner, including identification and other application data.

Answer Options
A
Delay the North Carolina requirement until after the loan closes or the renewal period ends.
B
Treat consumer consent as a cure for a prohibited or missing compliance step.
C
Treat the timing or filing requirement as optional if the transaction appears low risk.
D
NC MLO applications are filed through NMLS and must include information required by the Commissioner.

Why This Is the Correct Answer

NC MLO applications are filed through NMLS and must include information required by the Commissioner. North Carolina MLO applications are filed through NMLS and must contain the information required by the Commissioner, including identification and other application data.

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