Question

If you take an application to purchase a dwelling over the telephone and the applicant refuses to provide government monitoring information, you must:

A. Note that the information was not provided in a telephone application.
B. Complete the information based on the voice and last name of the applicant.
C. Leave that section of the application blank.
D. None of the above.

Answer 1

If an applicant refuses to provide government monitoring information during a telephone application to purchase a dwelling, the lender must note that the information was not provided in the application.

Step-by-step explanation:

If an applicant refuses to provide government monitoring information during a telephone application to purchase a dwelling, the lender must note that the information was not provided in the application. This is the correct course of action to comply with federal regulations. It is important for lenders to collect this information to monitor compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws.