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In a Tennessee mortgage operations checklist, a licensing coordinator sees a compliance issue involving advertising and consumer-protection controls. What should the file reflect?

Correct Answer

D) Tennessee Chapter 0180-17 includes refund rules for lock-in fees and commitment fees.

Tennessee Chapter 0180-17 includes refund rules for lock-in fees and commitment fees.

Answer Options
A
Postpone the Tennessee licensing and NMLS authority issue until the next annual review.
B
Use only the federal baseline and ignore the separate Tennessee state requirement.
C
Apply the rule only after the Tennessee regulator has already opened an examination.
D
Tennessee Chapter 0180-17 includes refund rules for lock-in fees and commitment fees.

Why This Is the Correct Answer

Tennessee Chapter 0180-17 includes refund rules for lock-in fees and commitment fees.

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