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In a New York advertising approval, an operations lead sees a compliance issue involving records, reports, and required notices. What should the file reflect?

Correct Answer

B) New York Article 12-D and DFS guidance require regulated mortgage bankers, brokers, and servicers to maintain required books, records, accounts, files, and reports for DFS review.

New York Article 12-D and DFS guidance require regulated mortgage bankers, brokers, and servicers to maintain required books, records, accounts, files, and reports for DFS review.

Answer Options
A
Skip the New York requirement because the company already follows general SAFE Act procedures.
B
New York Article 12-D and DFS guidance require regulated mortgage bankers, brokers, and servicers to maintain required books, records, accounts, files, and reports for DFS review.
C
Treat advertising and consumer-protection controls as optional because the company has a general New York compliance policy.
D
Postpone the New York advertising and consumer-protection controls issue until the next annual review.

Why This Is the Correct Answer

New York Article 12-D and DFS guidance require regulated mortgage bankers, brokers, and servicers to maintain required books, records, accounts, files, and reports for DFS review.

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