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A quality-control reviewer is updating New York procedures for NMLS filing review and flags continuing education and renewal. Which answer is accurate?

Correct Answer

A) New York DFS accepts new mortgage loan originator applications through NMLS under Article 12-E of the New York Banking Law.

New York DFS accepts new mortgage loan originator applications through NMLS under Article 12-E of the New York Banking Law.

Answer Options
A
New York DFS accepts new mortgage loan originator applications through NMLS under Article 12-E of the New York Banking Law.
B
Treat consumer consent as a cure for a prohibited or missing compliance step.
C
Treat the timing or filing requirement as optional if the transaction appears low risk.
D
Assume the New York requirement does not apply to this annual compliance meeting.

Why This Is the Correct Answer

New York DFS accepts new mortgage loan originator applications through NMLS under Article 12-E of the New York Banking Law.

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