An operations lead is resolving ECOA Prohibited Discrimination Bases during a loan-team coaching session. Which action best fits the rule?
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 a compliance manager about RESPA servicing and affiliated-business rules during a company policy update. Which answer should guide the file?
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An MLO is reviewing procedures for a case where a borrower sends a written request for information to the servicer-designated address. What is the proper handling?