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For a New Mexico regulator exam preparation, a sponsorship reviewer is training staff on advertising and disclosure controls. Which answer should be used?

Correct Answer

D) New Mexico fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

New Mexico fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

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
New Mexico fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

Why This Is the Correct Answer

New Mexico fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.

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