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In a Pennsylvania annual compliance meeting, a branch supervisor sees a compliance issue involving licensing and NMLS authority. What should the file reflect?

Correct Answer

A) Pennsylvania DoBS requires all mortgage business applicants and licensees to use NMLS to apply for and manage their mortgage license.

Pennsylvania DoBS requires all mortgage business applicants and licensees to use NMLS to apply for and manage their mortgage license.

Answer Options
A
Pennsylvania DoBS requires all mortgage business applicants and licensees to use NMLS to apply for and manage their mortgage license.
B
Assume the Pennsylvania requirement does not apply to this branch onboarding review.
C
Treat licensing and NMLS authority as satisfied by borrower consent alone.
D
Delay the Pennsylvania requirement until after the loan closes or the renewal period ends.

Why This Is the Correct Answer

Pennsylvania DoBS requires all mortgage business applicants and licensees to use NMLS to apply for and manage their mortgage license.

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