CRAM ARCADE Open App

Under the Gramm-Leach-Bliley Act (GLBA), what is the primary MLO responsibility regarding borrower information?

Ethics · 18% of the SAFE exameasy

Show the answer and explanation

Correct answer: Implement safeguards to protect borrower privacy

GLBA and its Safeguards Rule require financial institutions (including mortgage companies) to protect borrower personal information with reasonable security measures and provide privacy notices.

Drill 2,078 more questions like this, free

CRAM ARCADE has the full NMLS question bank, timed practice exams, focus drills on your weakest category, flashcards and spaced repetition. No credit card.

Start studying free