A mortgage company wants to send promotional text messages about refinancing to existing customers. Under TCPA rules, what type of consent is required for these text messages?
Correct Answer
B) Prior express written consent is required
Under the TCPA, prior express written consent is required for all promotional or marketing text messages, even to existing customers. The existing business relationship exception does not apply to text message marketing.
Why This Is the Correct Answer
Under the TCPA, prior express written consent is required for all promotional or marketing text messages, even to existing customers. The existing business relationship exception does not apply to text message marketing.
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A borrower's adult child with power of attorney requests loan modification documents. The power of attorney document is six months old but appears valid. What should the MLO verify before releasing information?
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A borrower's adult child calls asking about their parent's mortgage application because the parent is in the hospital. What should the MLO do?