Before approving the new-license application, a North Carolina renewal specialist checks licensing and NMLS authority. Which conclusion is best supported?
Correct Answer
C) NC mortgage lenders and mortgage brokers must include a link to NMLS Consumer Access on their websites.
NC mortgage lenders and mortgage brokers must include a link to NMLS Consumer Access on their websites. North Carolina mortgage lenders and mortgage brokers must include a link to NMLS Consumer Access on their websites.
Why This Is the Correct Answer
NC mortgage lenders and mortgage brokers must include a link to NMLS Consumer Access on their websites. North Carolina mortgage lenders and mortgage brokers must include a link to NMLS Consumer Access on their websites.
Why the Other Options Are Wrong
Option A: Postpone the North Carolina continuing education and renewal issue until the next annual review.
Postpone the North Carolina continuing education and renewal issue until the next annual review. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option B: 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-identifier-remote-branch-and-records
Exam Tip
Consumer Access is a website compliance point for NC lenders and brokers.
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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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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