A state regulatory authority has the power to examine mortgage loan originators and mortgage companies. During an examination, what records must be made available to the examiner?
Correct Answer
B) Records specifically requested by the examiner that are relevant to the examination
Under state regulatory authority examination powers, examiners have the right to access all records that are relevant to their examination of compliance with state mortgage lending laws. This includes books, accounts, records, files, documents, and other information regardless of physical form.
Why This Is the Correct Answer
Under state regulatory authority examination powers, examiners have the right to access all records that are relevant to their examination of compliance with state mortgage lending laws. This includes books, accounts, records, files, documents, and other information regardless of physical form.
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