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A sponsorship reviewer compares company policy with Texas requirements during a loan-originator transfer. 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 an informal manager exception without updating the license, file, or required record.
B
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
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
Use a renewal checklist exception instead of satisfying the rule before activity continues.

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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