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A company policy memo needs a Florida rule for sponsorship and employment status. Which statement should be included?

Correct Answer

C) Florida mortgage loan definitions include residential mortgage loans secured by Florida real property or dwellings within Chapter 494 scope, so product and property scope matter in state-law questions.

Florida mortgage loan definitions include residential mortgage loans secured by Florida real property or dwellings within Chapter 494 scope, so product and property scope matter in state-law questions.

Answer Options
A
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.
B
Continue the activity and document the issue only if a complaint is later filed.
C
Florida mortgage loan definitions include residential mortgage loans secured by Florida real property or dwellings within Chapter 494 scope, so product and property scope matter in state-law questions.
D
Let the MLO originate while waiting for the Florida status, sponsorship, or renewal issue to be corrected.

Why This Is the Correct Answer

Florida mortgage loan definitions include residential mortgage loans secured by Florida real property or dwellings within Chapter 494 scope, so product and property scope matter in state-law questions.

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