EstatePass
USTeasy11% of exam

an Alabama compliance file raises an advertising and disclosure controls question involving fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator. Which statement is supported by the state rule?

Correct Answer

D) Alabama fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

Alabama fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

Answer Options
A
Use a verbal explanation instead of the required disclosure, record, or filing.
B
Keep only informal notes instead of the required state records or notices.
C
Apply a generic federal shortcut and ignore the state-specific condition.
D
Alabama fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

Why This Is the Correct Answer

Alabama fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing