A manager reviews a proposed Massachusetts workflow for scope and exemptions. Which statement should guide the workflow?
Correct Answer
A) Massachusetts defines covered residential mortgage loans by personal-use purpose and dwelling security.
A Massachusetts residential mortgage loan is a primarily personal, family, or household loan secured by a mortgage, deed of trust, or equivalent consensual security interest on a dwelling or residential real estate with a dwelling constructed or intended.
Why This Is the Correct Answer
A Massachusetts residential mortgage loan is a primarily personal, family, or household loan secured by a mortgage, deed of trust, or equivalent consensual security interest on a dwelling or residential real estate with a dwelling constructed or intended.
More UST Questions
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