In mortgage lending, who does the term "Qualified Individual" refer to?

The term "Qualified Individual" in the context of mortgage lending specifically refers to a person who is licensed as a residential mortgage lender or broker. This designation is crucial because it indicates that the individual has met the necessary education and regulatory requirements to engage in mortgage lending activities.

A licensed residential mortgage lender or broker is held to professional standards and is required to comply with applicable laws and regulations, such as those established by the New Jersey Residential Mortgage Lending Act. This licensing ensures that the individual possesses the expertise needed to guide clients through the complexities of mortgage transactions, protect consumer interests, and contribute positively to the overall integrity of the mortgage lending process.

In contrast, the other options provide roles that do not include the required licensing or regulatory oversight critical for someone working directly in mortgage lending. Therefore, the correct answer highlights the importance of having a properly licensed professional in the mortgage industry to ensure compliance and protect all parties involved in the transaction.