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During a New Mexico training scenario, a licensing coordinator must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

D) New Mexico licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

New Mexico licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Answer Options
A
Proceed before the required New Mexico license, sponsorship, disclosure, record, or approval is in place.
B
Use an informal manager exception without updating the license, file, or required record.
C
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
D
New Mexico licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Why This Is the Correct Answer

New Mexico licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

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