A record-retention audit raises a question about RESPA and Regulation X. Which action should the audit analyst recommend?
Correct Answer
B) Reject the kickback or unearned-fee arrangement
RESPA prohibits kickbacks and regulates escrow, servicing, and settlement-service practices. The best answer is "Reject the kickback or unearned-fee arrangement".
Why This Is the Correct Answer
RESPA prohibits kickbacks and regulates escrow, servicing, and settlement-service practices. The best answer is "Reject the kickback or unearned-fee arrangement".
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A team member asks about Fair Housing Act Redlining in a consumer complaint triage while trying to decide how the file should be documented. Which response should the file reviewer use?
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A team member asks about Flood Disaster Protection Act in a consumer complaint triage while trying to choose the most defensible file action. Which response should the MLO use?