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A policy analyst handling an Oklahoma company policy update needs the compliant answer for licensing and NMLS authority. What should the reviewer choose?

Correct Answer

B) Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

Answer Options
A
Oklahoma: Mortgage records may be discarded as soon as a loan is sold or servicing is transferred.
B
Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.
C
Oklahoma: Surety bond, reporting, notice, and examination duties arise only after a consumer complaint has already been filed.
D
Oklahoma: The state regulator cannot examine records if the company also files information through NMLS.

Why This Is the Correct Answer

Oklahoma Department of Consumer Credit has examination, investigation, supervision, or compliance-review authority over state-regulated mortgage licensees.

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