A mortgage company asks an operations lead to validate a Virginia supervisory file review involving licensing and NMLS authority. Which statement is reliable?
Correct Answer
C) Virginia licensees must keep required records, reports, notices, and filings current.
Virginia requires licensees to respond to Bureau requests within the period specified or, if no period is specified, within 30 days, and records with consumer personal financial information must be disposed of securely after applicable retention periods.
Why This Is the Correct Answer
Virginia requires licensees to respond to Bureau requests within the period specified or, if no period is specified, within 30 days, and records with consumer personal financial information must be disposed of securely after applicable retention periods.
More UST Questions
In a Missouri mortgage file, the loan file reviewer is asked to document licensing and NMLS authority before continuing. Which rule controls?
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