A customer-service escalation raises an ECOA Prohibited Basis question for a disclosure specialist. What answer should guide the file?
Correct Answer
A) Use consistent, credit-related underwriting standards
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Use consistent, credit-related underwriting standards".
Why This Is the Correct Answer
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Use consistent, credit-related underwriting standards".
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Previous Question
A mortgage file is paused during a lock-desk handoff because of TILA TRID Timing Requirements. Which answer should apply the requirement without relying on borrower preference?
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Before the team acts on a servicing handoff check, a disclosure specialist must address TILA TRID Tolerances. Which response is most defensible?