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During a New Mexico new-license application, a state compliance officer must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

C) New Mexico mortgage advertising and borrower-facing communications are subject to state mortgage law, regulator guidance, or NMLS identifier requirements.

New Mexico mortgage advertising and borrower-facing communications are subject to state mortgage law, regulator guidance, or NMLS identifier requirements.

Answer Options
A
Treat licensing and NMLS authority as satisfied by borrower consent alone.
B
Delay the New Mexico requirement until after the loan closes or the renewal period ends.
C
New Mexico mortgage advertising and borrower-facing communications are subject to state mortgage law, regulator guidance, or NMLS identifier requirements.
D
Treat consumer consent as a cure for a prohibited or missing compliance step.

Why This Is the Correct Answer

New Mexico mortgage advertising and borrower-facing communications are subject to state mortgage law, regulator guidance, or NMLS identifier requirements.

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