A processor handoff raises an RESPA Servicing Requirements question for a licensing coordinator. What answer should guide the file?
Correct Answer
B) Give the AFBA disclosure and avoid required use
RESPA/Regulation X limits referral value and sets servicing disclosure and response duties. The best answer is "Give the AFBA disclosure and avoid required use".
Why This Is the Correct Answer
RESPA/Regulation X limits referral value and sets servicing disclosure and response duties. The best answer is "Give the AFBA disclosure and avoid required use".
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A compliance review finds that a borrower sends a written request for information to the servicer-designated address. What should the MLO do next?
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A policy analyst is resolving Flood Disaster Protection Act during a quality-control sample. Which action best fits the rule?