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In a Texas supervisory file review, a quality-control reviewer sees a compliance issue involving licensing and NMLS authority. What should the file reflect?

Correct Answer

A) 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
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.
B
Treat the timing or filing requirement as optional if the transaction appears low risk.
C
Assume the Texas requirement does not apply to this MLO sponsorship update.
D
Treat licensing and NMLS authority as satisfied by borrower consent alone.

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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