If a mortgage loan originator's (MLO's) advertising campaign produces more new applicants than expected, the MLO's processor is permitted to assist the MLO by:

Negotiating loan terms and locking rates is a function reserved exclusively for licensed mortgage loan originators. This task requires the MLO's expertise and authority, as it involves making critical financial decisions that affect both the lender and the borrower.

While the processor may support the application process, using the MLO's unique identifier to take applications is not allowed. Only the MLO can formally accept applications, as this requires a licensed individual to ensure compliance with regulatory standards and ethical practices.

Taking applications and advising borrowers on choosing rates must be performed by a licensed MLO. The processor may assist in gathering information, but they cannot engage in activities that require licensing, such as making recommendations on loan products or rates.