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Which statement best reflects New Mexico mortgage reporting, notice, amendment, or renewal-update duties?

Correct Answer

D) 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
New Mexico: Mortgage records may be discarded as soon as a loan is sold or servicing is transferred.
B
New Mexico: Surety bond, reporting, notice, and examination duties arise only after a consumer complaint has already been filed.
C
New Mexico: The state regulator cannot examine records if the company also files information through NMLS.
D
New Mexico mortgage licensees may have state or NMLS reporting, notice, call report, amendment, or renewal-update obligations.

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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