Luật vay thế chấp liên bangCâu 27 / 400
Under ECOA/Regulation B, for how long must a creditor generally retain records related to a mortgage application after notifying the applicant of action taken?
a.25 months
b.12 months
c.6 months
d.36 months
Giải thích
Regulation B generally requires creditors to retain mortgage application records for 25 months after notifying the applicant of the action taken (12 months for business credit in some cases). Six, twelve, and thirty-six months are not the standard consumer-credit retention period under Regulation B. This supports fair-lending examination and enforcement.
Trích dẫn luật: ECOA / Regulation BLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Regulation Z's ability-to-repay (ATR) rule generally requires a lender making a covered mortgage loan to:
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- At or before settlement on a purchase loan requiring an escrow account, RESPA requires the servicer to provide the borrower with:
- Under the Fair Credit Reporting Act, most negative information (such as late payments) may generally remain on a consumer's credit report for up to:
- A loan is classified as a 'higher-priced mortgage loan' (HPML) under Regulation Z. Which additional requirement generally applies?
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