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A training quiz asks about New Mexico rules for sponsorship and employment status. Which option gives the correct rule?

Correct Answer

D) New Mexico Financial Institutions Division FAQ distinguishes state mortgage licensing from W-2 versus 1099 employment classification issues and points to federal loan-originator compensation rules where applicable.

New Mexico Financial Institutions Division FAQ distinguishes state mortgage licensing from W-2 versus 1099 employment classification issues and points to federal loan-originator compensation rules where applicable.

Answer Options
A
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
B
Use a loan-originator transfer exception instead of satisfying the rule before activity continues.
C
Close or renew first, then decide whether the loan-originator transfer needs a compliance correction.
D
New Mexico Financial Institutions Division FAQ distinguishes state mortgage licensing from W-2 versus 1099 employment classification issues and points to federal loan-originator compensation rules where applicable.

Why This Is the Correct Answer

New Mexico Financial Institutions Division FAQ distinguishes state mortgage licensing from W-2 versus 1099 employment classification issues and points to federal loan-originator compensation rules where applicable.

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