EstatePass
USThard11% of exam

For a New Mexico record-retention audit, a sponsorship reviewer is training staff on licensing and NMLS authority. Which answer should be used?

Correct Answer

B) 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
New Mexico unlicensed residential mortgage origination, brokering, lending, servicing, or related mortgage activity can trigger state enforcement when no exemption applies.
C
Skip the New Mexico requirement because the company already follows general SAFE Act procedures.
D
Treat sponsorship and employment status as optional because the company has a general New Mexico compliance policy.

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.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing