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During a New Jersey new-license application, a sponsorship reviewer must resolve a question about sponsorship and employment status. Which statement should control?

Correct Answer

C) A New Jersey licensed attorney negotiating mortgage terms as an ancillary matter to client representation is exempt unless compensated by a residential mortgage lender or residential mortgage broker.

A New Jersey licensed attorney negotiating mortgage terms as an ancillary matter to client representation is exempt unless compensated by a residential mortgage lender or residential mortgage broker.

Answer Options
A
Skip documentation because the new-license application appears routine.
B
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.
C
A New Jersey licensed attorney negotiating mortgage terms as an ancillary matter to client representation is exempt unless compensated by a residential mortgage lender or residential mortgage broker.
D
Continue the activity and document the issue only if a complaint is later filed.

Why This Is the Correct Answer

A New Jersey licensed attorney negotiating mortgage terms as an ancillary matter to client representation is exempt unless compensated by a residential mortgage lender or residential mortgage broker.

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