Question: I know that if we deny an application for a consumer mortgage within three days we do not have to send the early disclosures such as the Good Faith Estimate. What happens if the customer withdraws the application within three days? Do we still have to send the disclosures?
Answer: No. You do not need to send early disclosures to this consumer. A withdrawn application is no longer an application. Of course, it should be clearly withdrawn by the customer. In situations when the customer contacts the loan officer and says that they are no longer interested in getting a loan through you, the application is withdrawn. You have no further obligations to that consumer because there isn't an application.
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