A licensee asks an appraiser to correct a factual error in the appraisal report. What is the best conclusion under North Carolina MLO law or NCCOB guidance?
Correct Answer
B) NC prohibits improperly influencing appraiser independence but permits proper requests for additional information, substantiation, or correction of factual errors.
NC prohibits improperly influencing appraiser independence but permits proper requests for additional information, substantiation, or correction of factual errors. North Carolina prohibits improper influence over appraiser independence while allowing certain proper requests such as asking for additional information or correction of factual errors.
Why This Is the Correct Answer
NC prohibits improperly influencing appraiser independence but permits proper requests for additional information, substantiation, or correction of factual errors. North Carolina prohibits improper influence over appraiser independence while allowing certain proper requests such as asking for additional information or correction of factual errors.
Why the Other Options Are Wrong
Option A: Postpone the North Carolina licensing and NMLS authority issue until the next annual review.
Postpone the North Carolina licensing and NMLS authority issue until the next annual review. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Use only the federal baseline and ignore the separate North Carolina state requirement.
Use only the federal baseline and ignore the separate North Carolina state requirement. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Apply the rule only after the North Carolina regulator has already opened an examination.
Apply the rule only after the North Carolina regulator has already opened an examination. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
NC -> nc-servicing-prohibited-acts-advertising-and-high-cost
Exam Tip
Proper correction requests differ from pressure on value.
Common Mistakes to Avoid
- -Using a national baseline answer when North Carolina has a state-specific rule
- -Confusing company licensing, MLO licensing, and sponsorship
- -Treating an exemption or temporary authority rule as a blanket waiver
More UST Questions
In a pricing desk question, an audit analyst sees facts tied to Prohibited Misrepresentation. What should the file reflect?
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A state regulator has issued an order suspending an MLO's authority effective immediately. The MLO has filed an appeal, but no stay has been granted. What should the MLO do?
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An MLO's license status in NMLS changes to suspended, with no stay or reinstatement shown. What is the immediate operational effect?
Which fact most directly supports disciplinary action against an MLO rather than merely a request for additional application information?
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