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A loan file reviewer documents a Georgia consumer complaint response and needs one rule for advertising and disclosure controls. Which statement belongs in the file?

Correct Answer

D) Georgia scope, exemption, and role-definition rules control whether the activity requires MLO licensing.

The Georgia Fair Lending Act defines a high-cost home loan as a home loan whose terms meet or exceed one or more statutory threshold triggers.

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
Georgia scope, exemption, and role-definition rules control whether the activity requires MLO licensing.

Why This Is the Correct Answer

The Georgia Fair Lending Act defines a high-cost home loan as a home loan whose terms meet or exceed one or more statutory threshold triggers.

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