A mortgage team asks a compliance manager about ECOA and Regulation B during a new-license application. Which answer should guide the file?
Correct Answer
A) Provide appraisal and valuation copies on time
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Provide appraisal and valuation copies on time".
Why This Is the Correct Answer
ECOA/Regulation B prohibits discrimination and requires action notices and valuation copies. The best answer is "Provide appraisal and valuation copies on time".
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