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#665279 - 01/11/07 11:44 PM Selling applications
comply2me Offline
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Joined: Jan 2007
Posts: 5
Hello Folks, we are getting ready to take applications online and we're wondering if we sell applications, applications we would otherwise deny, to a subprime lender, what are the compliance issues we are looking at?

thanks
Dan

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eBanking / Technology
#665325 - 01/12/07 01:44 PM Re: Selling applications comply2me
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,389
Galveston, TX
If you are taking about mortgage applications, getting paid for just forwarding the applications without performing other settlement functions presents some RESPA issues.
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