a California compliance file raises a records and reporting question involving Under RESPA, which applies to CRMLA servicers, a qualified written request must be acknowledged in writing within 5. Which statement is supported by the state rule?
Correct Answer
C) Under RESPA, which applies to CRMLA servicers, a qualified written request must be acknowledged in writing within 5 business days of receipt.
Under RESPA, which applies to CRMLA servicers, a qualified written request must be acknowledged in writing within 5 business days of receipt. The servicer must then provide a substantive response within 30 business days.
Why This Is the Correct Answer
Under RESPA, which applies to CRMLA servicers, a qualified written request must be acknowledged in writing within 5 business days of receipt. The servicer must then provide a substantive response within 30 business days.
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