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A compliance officer is coaching an MLO on New York pre-licensure education. Which answer should the MLO follow?

Correct Answer

B) New York DFS MLO applicants must complete 20 hours of NMLS-approved pre-licensure education, including 3 hours of New York law.

New York DFS MLO applicants must complete 20 hours of NMLS-approved pre-licensure education, including 3 hours of New York law.

Answer Options
A
Treat the timing or filing requirement as optional if the transaction appears low risk.
B
New York DFS MLO applicants must complete 20 hours of NMLS-approved pre-licensure education, including 3 hours of New York law.
C
Assume the New York requirement does not apply to this NMLS filing review.
D
Treat continuing education and renewal as satisfied by borrower consent alone.

Why This Is the Correct Answer

New York DFS MLO applicants must complete 20 hours of NMLS-approved pre-licensure education, including 3 hours of New York law.

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