A mortgage team asks a licensing coordinator about GLBA privacy requirements during a new-license application. Which answer should guide the file?
Correct Answer
C) Share borrower information only with proper authority
Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Share borrower information only with proper authority".
Why This Is the Correct Answer
Nonpublic personal information must be handled under GLBA privacy limits and notices. The best answer is "Share borrower information only with proper authority".
More Federal Laws Questions
A mortgage team asks a branch supervisor about TILA APR and finance-charge rules during a renewal checklist. Which answer should guide the file?
A mortgage file is paused during a risk-control review because of TILA QM DTI Calculation. Which answer should choose the most defensible file action?
A disciplinary-risk review raises a question about TILA APR and finance-charge rules. Which action should the renewal specialist recommend?
Before the loan advances, a quality-control reviewer must resolve a ATR/QM repayment-ability rules issue in a supervisory file review. What should happen?
A policy analyst is resolving Flood Disaster Protection Act during a quality-control sample. Which action best fits the rule?
A compliance exception review raises an ECOA Prohibited Basis question for a policy analyst. What answer should guide the file?
A consumer complaint response raises a question about GLBA privacy requirements. Which action should the state compliance officer recommend?
A company policy update raises a question about flood-insurance requirements. Which action should the state compliance officer recommend?
An operations lead is resolving HMDA Reporting Requirements during a quality-control sample. Which action best fits the rule?
During a company policy update, a policy analyst identifies an issue involving ATR/QM repayment-ability rules. Which response is most compliant?
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Previous Question
During a supervisory file review, a licensing coordinator identifies an issue involving flood-insurance requirements. Which response is most compliant?
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A team member asks about TILA APR Disclosure in a compliance desk review while trying to select the answer that fits the governing requirement. Which response should a licensing coordinator use?