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A lender is preparing a New York compliance audit focused on continuing education and renewal. Which statement should be treated as accurate?

Correct Answer

A) NMLS New York education guidance includes a 3-hour state-specific law requirement for New York MLO pre-licensure education, and New York DFS state-specific CE is reflected in the 11-hour annual CE planning baseline.

NMLS New York education guidance includes a 3-hour state-specific law requirement for New York MLO pre-licensure education, and New York DFS state-specific CE is reflected in the 11-hour annual CE planning baseline.

Answer Options
A
NMLS New York education guidance includes a 3-hour state-specific law requirement for New York MLO pre-licensure education, and New York DFS state-specific CE is reflected in the 11-hour annual CE planning baseline.
B
Handle continuing education and renewal with an informal note rather than the required license, disclosure, filing, or record.
C
Use another jurisdiction's approval as a substitute for the New York requirement.
D
Treat the requirement as waived because the borrower or employer agrees.

Why This Is the Correct Answer

NMLS New York education guidance includes a 3-hour state-specific law requirement for New York MLO pre-licensure education, and New York DFS state-specific CE is reflected in the 11-hour annual CE planning baseline.

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