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A company entering the Texas market is documenting rules for sponsorship and employment status. Which statement is accurate?

Correct Answer

C) Texas SML mortgage company, mortgage banker, and RMLO applications, sponsorship, renewals, amendments, and mortgage call reports are handled through NMLS when required.

Texas SML mortgage company, mortgage banker, and RMLO applications, sponsorship, renewals, amendments, and mortgage call reports are handled through NMLS when required.

Answer Options
A
Assume another state's approval automatically satisfies the Texas requirement.
B
Apply the Texas rule only to company licenses and never to individual MLO activity.
C
Texas SML mortgage company, mortgage banker, and RMLO applications, sponsorship, renewals, amendments, and mortgage call reports are handled through NMLS when required.
D
Handle continuing education and renewal with an informal note rather than the required license, disclosure, filing, or record.

Why This Is the Correct Answer

Texas SML mortgage company, mortgage banker, and RMLO applications, sponsorship, renewals, amendments, and mortgage call reports are handled through NMLS when required.

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