Reg B - Two Loan Denials?
Answer by David Dickinson , BOL Gurus Guru Bio
Question:
When a commercial borrower requests two loans on the same application and the loan is denied, does Reg B require two separate loan denials regardless of whether the reasons are the same?
Answer:
I don't believe so. I believe you received one application that would be split into two loans. You made one decision to deny both; therefore, one AAN is all that is needed.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
