What action must a housing loan lender take regarding mortgage intermediaries?

• A. publish in national newspaper monthly a list of all the mortgage intermediaries with current appointment.
• B. retain a publicly accessible register of all mortgage intermediaries to whom they have issued a current appointment.
• C. publish yearly the names and addresses of any mortgage intermediary they have removed from their register.
• D. seek approval from the Central Bank to remove a mortgage intermediary.

Answer: (B)

In housing loan regulation, transparency about who is authorized to arrange loans is essential. Lenders must keep and provide easy access to a list of the mortgage intermediaries they have currently appointed to act on their behalf. This helps borrowers verify who can legally negotiate on the lender’s behalf and ensures the information stays up to date.

The correct action is to maintain a publicly accessible register of all mortgage intermediaries to whom the lender has issued a current appointment. This creates a clear, ongoing record of active appointments that anyone can check, supporting accountability and consumer protection.

Publishing in a national newspaper monthly isn’t how this information is typically handled, and it wouldn’t guarantee current accuracy. Listing names and addresses of intermediaries who have been removed doesn’t address the need for ongoing visibility of those who are currently authorized. Requiring approval from the Central Bank to remove an intermediary adds an extra step that isn’t part of the standard duty to keep a current, public register of appointments.