WE PRINT A GEO CODING SHEET FOR ALL OF OUR LOANS BUT HAVE BEEN TOLD THAT WE CAN NOT KEEP THE GEO SHEET IN THE CONSUMER FILE BECAUSE IT GIVES THE AREA THE CONSUMER LIVES IN BUT IT OKAY TO HAVE IT IN REAL ESTATE FILES. IS THIS A REG B VIOLATION?
Wouldn’t their address on their application tell you their location as well? I’ve not heard of this either and I don’t think it is any kind of Reg B violation. I would ask for citation from whoever is telling you this.