A mortgage team asks a training manager about conflicts of interest during a record-retention audit. Which answer should guide the file?
Correct Answer
C) Disclose and manage the conflict before proceeding
Conflicts must be disclosed, managed, and kept free of referral compensation or steering incentives. The best answer is "Disclose and manage the conflict before proceeding".
Why This Is the Correct Answer
Conflicts must be disclosed, managed, and kept free of referral compensation or steering incentives. The best answer is "Disclose and manage the conflict before proceeding".
More Ethics & Fraud Questions
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Before the team acts on a production meeting, the MLO must address professional conduct standard to Borrowers. Which response is most defensible?
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