A Texas originator puts the unique identifier on the 1003 but leaves it off business cards and the website. Does the identifier need to appear on the business cards and website solicitations as well as the application?
Correct Answer
C) Deficient: it goes on applications, solicitations and advertisements too
The unique identifier must be clearly shown on each residential mortgage loan application form, solicitation or advertisement, including business cards and websites, and any other document required by rule. Other choices: the application is one of several places named; the company identifier is not a substitute for the individual one; and the requirement is written around applications, solicitations and advertisements rather than a set of 4 disclosures. Source: Tex. Fin. Code sec. 180.151
Why This Is the Correct Answer
The unique identifier must be clearly shown on each residential mortgage loan application form, solicitation or advertisement, including business cards and websites, and any other document required by rule. Other choices: the application is one of several places named; the company identifier is not a substitute for the individual one; and the requirement is written around applications, solicitations and advertisements rather than a set of 4 disclosures. Source: Tex. Fin. Code sec. 180.151
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