For error resolution (1024.35) and info request (1024.36) on a confirmed Successor in Interest the rules state we MAY omit certain information.
1024.35 Error Resolution
(5) Omissions in responses to requests for documentation. In its response to a request for documentation under paragraph (e)(4) of this section, a servicer may omit location and contact information and personal financial information (other than information about the terms, status, and payment history of the mortgage loan) if:
(i) The information pertains to a potential or confirmed successor in interest who is not the requester; or
(ii) The requester is a confirmed successor in interest and the information pertains to any borrower who is not the requester.
Request for info says basically the same thing so I will not post it here.
1) Are most banks going to omit information or choose not to omit?
2) What are the cons if we choose not to omit?
3) If we choose not to omit, how would we, or should we, document our best practice and policy that we are not going to omit so examiners do not think we overlooked this option?
Thank you.