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In a Texas advertising approval, a training manager sees a compliance issue involving licensing and NMLS authority. What should the file reflect?

Correct Answer

C) 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
Handle licensing and NMLS authority with an informal note rather than the required license, disclosure, filing, or record.
B
Use another jurisdiction's approval as a substitute for the Texas requirement.
C
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.
D
Treat the requirement as waived because the borrower or employer agrees.

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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