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#1108854 - 01/09/09 11:36 PM Ofac and denied loan
croth Offline
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Joined: Jun 2008
Posts: 9
If you denie a loan do you have to get an approval on a ofac hit

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Lending Compliance
#1108862 - 01/09/09 11:42 PM Re: Ofac and denied loan croth
ktac MITCH Offline
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ktac MITCH
Joined: May 2005
Posts: 1,813
Giant side of TX
More info please - - - not sure what your question is and who you are wanting to "Approve"; someone indicated in your bank policies or OFAC?
Did you deny because you think it is a true OFAC Hit?
Did you deny for othre reasons & have a potential OFAC Hit?
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#1108865 - 01/09/09 11:45 PM Re: Ofac and denied loan ktac MITCH
croth Offline
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Joined: Jun 2008
Posts: 9
the loan was denied for other reasons but have a potential ofac hit

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#1108868 - 01/09/09 11:47 PM Re: Ofac and denied loan ktac MITCH
croth Offline
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Joined: Jun 2008
Posts: 9
the loan was denied for other reasons but a potenial ofac hit

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#1108876 - 01/10/09 12:00 AM Re: Ofac and denied loan croth
ktac MITCH Offline
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ktac MITCH
Joined: May 2005
Posts: 1,813
Giant side of TX
Then no, OFAC is so that you don't do transactions with the "bad guys" & you did not - they did not become your customer & you did not conduct a transaction.
I think the next step is to get with OFAC and determine if it is a true hit & if so a SAR could be in order, or at least letting OFAC know the contact info you received with the application.
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My opinions are just that, and might be worth what you paid for them.

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