A borrower mentions they've been advised by a financial planner to avoid certain loan features, but those features would generate higher compensation for the MLO. How should the MLO respond under fair dealing principles?
Correct Answer
C) Present objective information about all options and let the borrower decide
Fair dealing requires MLOs to provide objective, complete information about loan options without letting personal compensation considerations influence their recommendations. The borrower should receive unbiased information to make their own informed decision.
Why This Is the Correct Answer
Fair dealing requires MLOs to provide objective, complete information about loan options without letting personal compensation considerations influence their recommendations. The borrower should receive unbiased information to make their own informed decision.
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