A processor handoff raises an ECOA Individual Creditworthiness question for the supervisor. What answer should guide the file?
Correct Answer
D) 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".
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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A mortgage team asks an audit analyst about ECOA and Regulation B during a file review. Which answer should guide the file?
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A mortgage team asks a quality-control reviewer about flood-insurance requirements during a company policy update. Which answer should guide the file?