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During a New Mexico annual compliance meeting, a loan file reviewer must resolve a question about continuing education and renewal. Which statement should control?

Correct Answer

C) New Mexico mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.

New Mexico mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.

Answer Options
A
Apply the New Mexico rule only to company licenses and never to individual MLO activity.
B
Handle continuing education and renewal with an informal note rather than the required license, disclosure, filing, or record.
C
New Mexico mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.
D
Use another jurisdiction's approval as a substitute for the New Mexico requirement.

Why This Is the Correct Answer

New Mexico mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.

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