We have a situation where an LO has parted ways with our company. Their last loan closed the day after they left, but at that point the NMLS showed they were no longer authorized to represent us. We now have the dilemma of whether or not we can fund the loan in another LO's name or if we need to redraw our closing documents with another LO's name that is authorized to represent us. Would we still be okay to proceed with the funding in this instance?

The question is when were the document "issued"?

Paragraph 36(g)(1)(ii)

1. Multiple individual loan originators. If more than one individual meets the definition of a loan originator for a transaction, the name and NMLSR ID of the individual loan originator with primary responsibility for the transaction at the time the loan document is issued must be included. A loan originator organization that establishes and follows a reasonable, written policy for determining which individual loan originator has primary responsibility for the transaction at the time the document is issued complies with the requirement. If the individual loan originator with primary responsibility for a transaction at the time a document is issued is not the same individual loan originator who had primary responsibility for the transaction at the time that a previously issued document was issued, the previously issued document is not required to be reissued merely to change a loan originator name and NMLSR ID.

If this is secondary market loan, you need to check with the investor. I have seen them kicked back.

The documents were issued when the LO was still with our Company. From what I'm interpreting from the excerpt, we would still be within compliance since the LO was still with us and could fund as is, correct?