A mortgage loan originator receives a referral from a past client who provides their friend's phone number. The friend has not given direct consent to be contacted. Under the Telephone Consumer Protection Act (TCPA), what is the MLO's best course of action?
Correct Answer
C) Obtain written consent before making any contact
Under the TCPA, prior express written consent is required before making telemarketing calls to cell phones, even when the number comes from a referral. The consent must be obtained directly from the consumer, not through third parties.
Why This Is the Correct Answer
Under the TCPA, prior express written consent is required before making telemarketing calls to cell phones, even when the number comes from a referral. The consent must be obtained directly from the consumer, not through third parties.
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Previous Question
A mortgage company's automated underwriting system consistently approves fewer applications from borrowers in ZIP codes with majority African American populations, even when controlling for credit scores and income. The company states they had no knowledge of the demographic composition when programming the system. This most likely constitutes:
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An applicant provides an employment letter stating they work remotely for an out-of-state company. When the MLO contacts the company directly, they confirm the employee exists but state the position is unpaid internship, not the $5,000 monthly salary claimed. The original employment letter bears an authentic company letterhead. What fraud technique is evident?