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During a New Mexico company policy update, a quality-control reviewer must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

C) New Mexico mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.

New Mexico mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.

Answer Options
A
Apply the rule only after the New Mexico regulator has already opened an examination.
B
Skip the New Mexico requirement because the company already follows general SAFE Act procedures.
C
New Mexico mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.
D
Treat licensing and NMLS authority as optional because the company has a general New Mexico compliance policy.

Why This Is the Correct Answer

New Mexico mortgage licensing violations may result in administrative orders, civil money penalties, restitution, cease-and-desist orders, or similar remedies as allowed by state law.

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