A Texas file is paused during a branch onboarding review because of advertising and consumer-protection controls. Which statement clears the compliance question?
Correct Answer
B) Texas law prohibits unfair discrimination in mortgage lending based on protected characteristics such as race, color, religion, sex, national origin, ancestry, familial status, or disability.
Texas law prohibits unfair discrimination in mortgage lending based on protected characteristics such as race, color, religion, sex, national origin, ancestry, familial status, or disability.
Why This Is the Correct Answer
Texas law prohibits unfair discrimination in mortgage lending based on protected characteristics such as race, color, religion, sex, national origin, ancestry, familial status, or disability.
Why the Other Options Are Wrong
Option A: Use an informal manager exception without updating the license, file, or required record.
Use an informal manager exception without updating the license, file, or required record. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Use a verbal explanation instead of the required license status, disclosure, record, or filing.
Use a verbal explanation instead of the required license status, disclosure, record, or filing. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Use a mortgage operations checklist exception instead of satisfying the rule before activity continues.
Use a mortgage operations checklist exception instead of satisfying the rule before activity continues. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
TX -> tx-consumer-protection-prohibited-practices-complaints
Exam Tip
Texas consumer-protection items often test false or deceptive conduct, fair lending, complaint response, document production, conflicting roles, high-cost home-loan safeguards, and unlicensed or unauthorized origination.
Common Mistakes to Avoid
- -Using a generic national answer when Texas has SML, OCCC, home-equity, or Finance Code rules
- -Confusing Texas-SML and Texas-OCCC education, licensing, renewal, and product-scope requirements
- -Treating Texas 50(a)(6), temporary authority, exemptions, records, advertisements, or enforcement rules as optional
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