A disclosure specialist is resolving BSA SAR Filing Requirements during a loan-team coaching session. Which action best fits the rule?
Correct Answer
C) Keep SAR activity confidential from the borrower
RMLO AML and SAR rules require suspicious activity escalation and confidentiality. The best answer is "Keep SAR activity confidential from the borrower".
Why This Is the Correct Answer
RMLO AML and SAR rules require suspicious activity escalation and confidentiality. The best answer is "Keep SAR activity confidential from the borrower".
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?
People Also Study
General Mortgage Knowledge
20% of exam
Mortgage Loan Origination Activities
27% of exam
Ethics, Fraud & Consumer Protection
18% of exam
Uniform State Test Content
11% of exam
Related Study Resources
Previous Question
A quality-control reviewer flags a case because an MLO wants to pull a consumer report for curiosity before an application purpose exists. What correction is appropriate?
Next Question
During intake, a borrower sends a written request for information to the servicer-designated address. What is the best compliant response?