Federal Mortgage Law · 24% of the SAFE exammedium
Correct answer: Collect monitoring data for both the applicant and the co-applicant
Regulation B requires that when a mortgage involves a primary residence as collateral, the lender must collect government monitoring information (ethnicity, race, sex, marital status, age) for both the applicant and any co-applicant. Limiting collection to only the primary borrower is insufficient. The requirement is triggered by primary residence collateral — not non-primary residences — and in-person presence does not eliminate the collection requirement.
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