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A supervisor wants to avoid a New Jersey licensing error related to sponsorship and employment status. Which statement is safest to rely on?

Correct Answer

C) The RMLA defines a mortgage loan originator around taking a residential mortgage loan application or offering or negotiating residential mortgage loan terms for compensation or expected compensation.

The RMLA defines a mortgage loan originator around taking a residential mortgage loan application or offering or negotiating residential mortgage loan terms for compensation or expected compensation.

Answer Options
A
Treat sponsorship and employment status as satisfied by borrower consent alone.
B
Delay the New Jersey requirement until after the loan closes or the renewal period ends.
C
The RMLA defines a mortgage loan originator around taking a residential mortgage loan application or offering or negotiating residential mortgage loan terms for compensation or expected compensation.
D
Treat consumer consent as a cure for a prohibited or missing compliance step.

Why This Is the Correct Answer

The RMLA defines a mortgage loan originator around taking a residential mortgage loan application or offering or negotiating residential mortgage loan terms for compensation or expected compensation.

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