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

Correct Answer

D) New Mexico state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

New Mexico state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Answer Options
A
Skip the New Mexico requirement because the company already follows general SAFE Act procedures.
B
Treat licensing and NMLS authority as optional because the company has a general New Mexico compliance policy.
C
Postpone the New Mexico licensing and NMLS authority issue until the next annual review.
D
New Mexico state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Why This Is the Correct Answer

New Mexico state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

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