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A lender prepares a Massachusetts checklist for prohibited practices and consumer protection. Which rule belongs in the checklist?

Correct Answer

A) Massachusetts prohibits directly or indirectly using any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person.

Massachusetts prohibits directly or indirectly using any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person.

Answer Options
A
Massachusetts prohibits directly or indirectly using any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person.
B
Apply the Massachusetts rule only to company licenses and never to individual MLO activity.
C
Handle advertising and consumer-protection controls with an informal note rather than the required license, disclosure, filing, or record.
D
Use another jurisdiction's approval as a substitute for the Massachusetts requirement.

Why This Is the Correct Answer

Massachusetts prohibits directly or indirectly using any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person.

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