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A New Mexico compliance manager is reviewing a renewal checklist tied to licensing and NMLS authority. Which rule should be applied?

Correct Answer

C) 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
Treat consumer consent as a cure for a prohibited or missing compliance step.
B
Treat the timing or filing requirement as optional if the transaction appears low risk.
C
New Mexico state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.
D
Assume the New Mexico requirement does not apply to this state-law refresher.

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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