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A branch supervisor documents a New Mexico loan-originator transfer and needs one rule for continuing education and renewal. Which statement belongs in the file?

Correct Answer

D) 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
Assume the New Mexico requirement does not apply to this company policy update.
B
Treat continuing education and renewal as satisfied by borrower consent alone.
C
Delay the New Mexico requirement until after the loan closes or the renewal period ends.
D
New Mexico Financial Institutions Division says mortgage loan companies doing business in New Mexico must obtain a license through NMLS.

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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