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In a document-cure review, a compliance analyst sees facts tied to ECOA Spousal Information Requirements. What should the file reflect?

Correct Answer

A) Provide appraisal and valuation copies on time

ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Provide appraisal and valuation copies on time".

Answer Options
A
Provide appraisal and valuation copies on time
B
Use an internal exception instead of the required federal disclosure or timing rule.
C
Wait until a regulator asks for the file before applying the federal requirement.
D
Use prior closing disclosure approval as a substitute for the current ECOA Spousal Information Requirements requirement.

Why This Is the Correct Answer

ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Provide appraisal and valuation copies on time".

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