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Ethics & Fraudmedium18% of exam

A borrower scenario raises a question about confidentiality and Privacy and Confidentiality. Which answer should Frankie rely on?

Correct Answer

B) Verify identity before discussing loan information

borrower information must be protected and shared only with authority. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Verify identity before discussing loan information".

Answer Options
A
Apply the rule only after a regulator requests the file.
B
Verify identity before discussing loan information
C
Treat the compliance requirement as optional because closing is near.
D
Continue processing without correcting the disclosure, licensing, compensation, or consumer-protection issue.

Why This Is the Correct Answer

borrower information must be protected and shared only with authority. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Verify identity before discussing loan information".

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