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In a New Jersey advertising approval, a loan file reviewer sees a compliance issue involving continuing education and renewal. What should the file reflect?

Correct Answer

A) New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.

New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.

Answer Options
A
New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.
B
Assume the New Jersey requirement does not apply to this remote-work procedure.
C
Treat continuing education and renewal as satisfied by borrower consent alone.
D
Delay the New Jersey requirement until after the loan closes or the renewal period ends.

Why This Is the Correct Answer

New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.

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