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A mortgage company asks a training manager to validate a Pennsylvania company policy update involving sponsorship and employment status. Which statement is reliable?

Correct Answer

D) Pennsylvania mortgage originator definition excludes an individual involved only in timeshare-credit extensions and excludes certain clerical or support loan processors or underwriters.

Pennsylvania mortgage originator definition excludes an individual involved only in timeshare-credit extensions and excludes certain clerical or support loan processors or underwriters.

Answer Options
A
Treat sponsorship and employment status as satisfied by borrower consent alone.
B
Delay the Pennsylvania requirement until after the loan closes or the renewal period ends.
C
Treat consumer consent as a cure for a prohibited or missing compliance step.
D
Pennsylvania mortgage originator definition excludes an individual involved only in timeshare-credit extensions and excludes certain clerical or support loan processors or underwriters.

Why This Is the Correct Answer

Pennsylvania mortgage originator definition excludes an individual involved only in timeshare-credit extensions and excludes certain clerical or support loan processors or underwriters.

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