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A quality-control reviewer compares company policy with Texas requirements during a new-license application. Which statement fits licensing and NMLS authority?

Correct Answer

C) Texas defines a residential mortgage loan originator around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan for compensation or gain.

Texas defines a residential mortgage loan originator around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan for compensation or gain.

Answer Options
A
Use only the federal baseline and ignore the separate Texas state requirement.
B
Apply the rule only after the Texas regulator has already opened an examination.
C
Texas defines a residential mortgage loan originator around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan for compensation or gain.
D
Skip the Texas requirement because the company already follows general SAFE Act procedures.

Why This Is the Correct Answer

Texas defines a residential mortgage loan originator around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan for compensation or gain.

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