Final answer:
An individual who offers to negotiate the terms of residential mortgage loan applications for compensation must be licensed as a real estate broker.
Step-by-step explanation:
The statement 'An individual who offers to negotiate the terms of residential mortgage loan applications for compensation must be licensed as a real estate broker' is True.
In many jurisdictions, including the United States, individuals who negotiate the terms of residential mortgage loan applications for compensation must be licensed as real estate brokers. This requirement is in place to ensure that borrowers are protected and that the negotiation process is conducted by qualified professionals.
Licensing requirements for real estate brokers vary by state, so it is important to consult the specific laws and regulations of the jurisdiction in question.