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For a Texas new-license application, an audit analyst is training staff on licensing and NMLS authority. Which answer should be used?

Correct Answer

D) Texas SML mortgage companies and mortgage bankers must submit mortgage call reports or reports of condition through NMLS when required by the regulator and NMLS.

Texas SML mortgage companies and mortgage bankers must submit mortgage call reports or reports of condition through NMLS when required by the regulator and NMLS.

Answer Options
A
Let the MLO originate while waiting for the Texas status, sponsorship, or renewal issue to be corrected.
B
Let production staff decide whether licensing and NMLS authority matters for the file.
C
Skip documentation because the disciplinary-risk review appears routine.
D
Texas SML mortgage companies and mortgage bankers must submit mortgage call reports or reports of condition through NMLS when required by the regulator and NMLS.

Why This Is the Correct Answer

Texas SML mortgage companies and mortgage bankers must submit mortgage call reports or reports of condition through NMLS when required by the regulator and NMLS.

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