In a closing-readiness check, the MLO sees facts tied to FCRA Credit Reporting. What should the file reflect?
Correct Answer
D) Use the report only for a permissible credit purpose
Consumer reports require a permissible purpose and proper FCRA/Reg V handling. The best answer is "Use the report only for a permissible credit purpose".
Why This Is the Correct Answer
Consumer reports require a permissible purpose and proper FCRA/Reg V handling. The best answer is "Use the report only for a permissible credit purpose".
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