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An operations lead is updating Pennsylvania procedures for training scenario and flags sponsorship and employment status. Which answer is accurate?

Correct Answer

D) Pennsylvania states that Chapter 61 does not apply to mortgage loans made for business or commercial purposes.

Pennsylvania states that Chapter 61 does not apply to mortgage loans made for business or commercial purposes.

Answer Options
A
Treat the timing or filing requirement as optional if the transaction appears low risk.
B
Assume the Pennsylvania requirement does not apply to this advertising approval.
C
Treat sponsorship and employment status as satisfied by borrower consent alone.
D
Pennsylvania states that Chapter 61 does not apply to mortgage loans made for business or commercial purposes.

Why This Is the Correct Answer

Pennsylvania states that Chapter 61 does not apply to mortgage loans made for business or commercial purposes.

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