103 A loan applicant tells the mortgage loanoriginator (MLO) that the applicant is going toreceive a promotion and a pay increase. TheMLO shouldA) contact the emplover to confirm the applicantis getting a pay increase.B) tell the applicant to hold off on applying untilhe has documentation of the pay increase.C) take an application and list the increasedincome.D) take an application based on the currentInformation but tell the applicant to supplydocumentation of the pay increase ashe he has it

Answer.. The correct option for the question is C)Take an application and list the increased income.

Answered: 103 A loan applicant tells the mortgage…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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In an e-mail offering to sell amplifiers to Gina for her theater, Dick describes the 120-watt amplifiers as “210 watts per channel.” This is fraudulent misrepresentation if a. the number of watts is a material fact b. Dick intends to deceive Gina c. Gina relies on the description d. all of the above are true
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