What is the required record retention period for mortgage professionals?

• A. 7 years from closing
• B. 5 years from closing
• C. 2 years from closing
• D. 4 years from closing

Answer: (D)

Record retention for mortgage files is about keeping essential documents long enough to support regulatory reviews and any issues that might come up after closing. The standard baseline is four years from closing. This window gives regulators, auditors, and the institution ample time to review disclosures, terms, underwriting decisions, and closing documents if questions or investigations arise, while aligning with common licensing and examination timelines. Keeping records for only a shorter period could leave gaps during later inquiries, while four years strikes a practical balance for documented accountability. Some organizations may retain longer for specific items, but four years is the typical minimum reflected in many mortgage practice guidelines.