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A New Jersey quality-control reviewer is reviewing a renewal checklist tied to sponsorship and employment status. Which rule should be applied?

Correct Answer

B) A New Jersey qualified individual licensee for a residential mortgage lender, correspondent residential mortgage lender, or residential mortgage broker may act as an MLO without obtaining a separate New Jersey MLO license.

A New Jersey qualified individual licensee for a residential mortgage lender, correspondent residential mortgage lender, or residential mortgage broker may act as an MLO without obtaining a separate New Jersey MLO license.

Answer Options
A
Let production staff decide whether continuing education and renewal matters for the file.
B
A New Jersey qualified individual licensee for a residential mortgage lender, correspondent residential mortgage lender, or residential mortgage broker may act as an MLO without obtaining a separate New Jersey MLO license.
C
Skip documentation because the regulator exam preparation appears routine.
D
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.

Why This Is the Correct Answer

A New Jersey qualified individual licensee for a residential mortgage lender, correspondent residential mortgage lender, or residential mortgage broker may act as an MLO without obtaining a separate New Jersey MLO license.

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