I'm reading section 202.13(b)3 of the commentary for Regulation B. It's my opinion that this section means that when we accept a application by mail and there is no face-to-face contact with the borrower, the loan officer does not have to guess at the monitoring information if the borrower indicates on the application that he/she does not wish to supply it or if they simply don't complete the monitoring section of the application. Am I correct or is this just wishful thinking?

You are right.

Great. This doesn't happen to us very often and with CIP requirements it should still be a rare occurrance. Thanks for the response.