Van Gordon who works in the tech industry, has decided to sell his house. He is offering to carry the contract himself and does all the negotiating necessary to reach agreement on the terms of the mortgage loan. Must Van be licensed?
a. Van does not need to be licensed unless he negotiates more than one loan during any 12-month period
b. Van is exempt from the requirement to be licensed as the property on which he is negotiating the terms of the mortgage loan was his own residence
c. Yes, any individuals who offer or negotiate the terms of any residential mortgage loan must be licensed
d. Van must be licensed because he will receive compensation as a result of the transaction