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During a Pennsylvania advertising approval, a state compliance officer must resolve a question about licensing and NMLS authority. Which statement should control?

Correct Answer

C) 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
Treat licensing and NMLS authority as optional because the company has a general Pennsylvania compliance policy.
B
Postpone the Pennsylvania licensing and NMLS authority issue until the next annual review.
C
Pennsylvania DoBS requires all mortgage business applicants and licensees to use NMLS to apply for and manage their mortgage license.
D
Use only the federal baseline and ignore the separate Pennsylvania state requirement.

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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