a New York compliance file raises a temporary authority question involving Article 12-E requires mortgage call reports from originating entities that employ New York licensed MLOs when NMLS requires. Which statement is supported by the state rule?
Correct Answer
C) New York requires the specified mortgage records, reports, notices, or files to be kept and made available as the state rule requires.
New York Article 12-E requires mortgage call reports from originating entities that employ New York licensed MLOs when NMLS requires those reports.
Why This Is the Correct Answer
New York Article 12-E requires mortgage call reports from originating entities that employ New York licensed MLOs when NMLS requires those reports.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
A renewal specialist is updating Missouri procedures for supervisory file review and flags licensing and NMLS authority. Which answer is accurate?
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