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A loan file reviewer documents a New Mexico loan-originator transfer and needs one rule for licensing and NMLS authority. Which statement belongs in the file?

Correct Answer

D) New Mexico unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

New Mexico unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

Answer Options
A
Apply the rule only after the New Mexico regulator has already opened an examination.
B
Skip the New Mexico requirement because the company already follows general SAFE Act procedures.
C
Treat licensing and NMLS authority as optional because the company has a general New Mexico compliance policy.
D
New Mexico unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

Why This Is the Correct Answer

New Mexico unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.

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