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#1352326 - 03/04/10 05:02 PM Loan Officer withdrawing customer's application
COMPLIcated Offline
Diamond Poster
Joined: Mar 2003
Posts: 1,035
OK
We have a lender that did a memo for a withdrawn application however he put on the memo"customer could not get judgements cleared so we were not able to close the loan and the loan officer withdrew the application". Apparantly the lender worked with the customer for a while to get these taken care of but was going on too long and hit too many roadblocks. My question is, can a lender withdraw an application instead of the customer?

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Lending Compliance
#1352329 - 03/04/10 05:07 PM Re: Loan Officer withdrawing customer's application COMPLIcated
Dan Persfull Online
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,844
Bloomington, IN
Nope, only the applicant can withdraw their application.

This is a denial, you owe the applicant an AAN.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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