What is one main responsibility of an MLO when discussing loans with borrowers?

One main responsibility of a mortgage loan originator (MLO) when discussing loans with borrowers is to explain loan products and terms clearly. This is crucial because MLOs serve as a bridge between borrowers and the complexities of mortgage products. They need to ensure that borrowers fully understand their options, including interest rates, repayment terms, types of loans, and any associated fees. By providing clear explanations, MLOs empower borrowers to make informed decisions that align with their financial situations and goals. Effective communication fosters trust and assists borrowers in navigating the mortgage process, making it a fundamental aspect of an MLO's role.