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A mortgage company asks a branch supervisor to validate a New Mexico MLO sponsorship update involving advertising and consumer-protection controls. Which statement is reliable?

Correct Answer

A) 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
New Mexico fees, charges, lock-ins, broker compensation, or borrower funds must be handled according to state mortgage law or regulator guidance.
B
Use another jurisdiction's approval as a substitute for the New Mexico requirement.
C
Treat the requirement as waived because the borrower or employer agrees.
D
Assume another state's approval automatically satisfies the New Mexico requirement.

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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