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A lender preparing a New Mexico branch onboarding review asks a branch supervisor about continuing education and renewal. Which response should be followed?

Correct Answer

C) New Mexico Financial Institutions Division says mortgage loan companies doing business in New Mexico must obtain a license through NMLS.

New Mexico Financial Institutions Division says mortgage loan companies doing business in New Mexico must obtain a license through NMLS.

Answer Options
A
Let the MLO originate while waiting for the New Mexico status, sponsorship, or renewal issue to be corrected.
B
Let production staff decide whether continuing education and renewal matters for the file.
C
New Mexico Financial Institutions Division says mortgage loan companies doing business in New Mexico must obtain a license through NMLS.
D
Skip documentation because the record-retention audit appears routine.

Why This Is the Correct Answer

New Mexico Financial Institutions Division says mortgage loan companies doing business in New Mexico must obtain a license through NMLS.

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