A mortgage company receives a consumer's written consent to call their cell phone for marketing purposes. Six months later, the consumer changes their mind and verbally revokes consent during a call. How long does this revocation remain valid?
Correct Answer
C) Until the consumer provides new written consent
Under TCPA regulations, once a consumer revokes consent to receive calls (whether verbally or in writing), that revocation remains in effect indefinitely until the consumer provides new express written consent. The company cannot call for marketing purposes until new consent is obtained.
Why This Is the Correct Answer
Under TCPA regulations, once a consumer revokes consent to receive calls (whether verbally or in writing), that revocation remains in effect indefinitely until the consumer provides new express written consent. The company cannot call for marketing purposes until new consent is obtained.
More Ethics & Fraud Questions
A lender's mobile app prominently displays a 'pre-qualification' feature that asks for minimal information but generates loan amount estimates that are consistently 20-30% higher than what borrowers actually qualify for when they complete full applications. The app includes a disclaimer that estimates are 'subject to full underwriting.' This practice is most likely:
An MLO discovers that multiple loan applications from different borrowers contain identical handwriting in the signature sections, despite different purported signers. The applications were submitted by different real estate agents. What is the most appropriate immediate action?
A mortgage loan originator receives a lead from a real estate agent about a potential borrower. Before calling this consumer, the MLO must:
An MLO tells Asian applicants that they need larger down payments 'because that's what investors prefer for your type of loan,' while telling similarly qualified white applicants that standard down payments are acceptable. This practice represents:
A mortgage company advertises 'Guaranteed approval for all credit types!' but internally has minimum credit score requirements of 580. This advertisement is problematic because it:
People Also Study
Federal Mortgage-Related Laws
23% of exam
General Mortgage Knowledge
23% of exam
Mortgage Loan Origination Activities
25% of exam
Uniform State Test Content
12% of exam
Previous Question
A self-employed borrower's bank statements show regular deposits labeled as 'business income,' but cross-referencing with their business tax returns reveals the deposited amounts exceed reported gross receipts by 40%. What violation does this suggest?
Next Question
A borrower claims rental income from a property they purchased 8 months ago, providing a lease dated 6 months ago. However, property records show the previous owner had an active lease with the same tenant that expired 2 months before the borrower's purchase. What does this timeline suggest?