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For an Oklahoma annual compliance meeting, a quality-control reviewer is training staff on licensing and NMLS authority. Which answer should be used?

Correct Answer

B) Oklahoma state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Oklahoma state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

Answer Options
A
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
B
Oklahoma state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.
C
Use a regulator exam preparation exception instead of satisfying the rule before activity continues.
D
Close or renew first, then decide whether the regulator exam preparation needs a compliance correction.

Why This Is the Correct Answer

Oklahoma state mortgage licensing can require review of owners, officers, control persons, qualifying individuals, managers, or responsible persons for company applicants.

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