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#1667031 - 02/17/12 04:43 PM SM Loan App/Denial
ackcompliance Offline
100 Club
Joined: Nov 2009
Posts: 139
I'm not sure what is accepted here... We had a customer call in and complete a telephone app for a Residential RE loan. She wanted to apply for joint credit with her husband who is serving overseas.

To make a long story short, they were both denied. She gave approval for her credit and said that she had POA for her husband. Is this typical for SM to have a POA? What type of documents do we need for the denial of a SM application? I'm not sure if there are different requirements for these or not..

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#1667148 - 02/17/12 06:04 PM Re: SM Loan App/Denial ackcompliance
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,529
Bloomington, IN
There are no special forms. You just follow your normal notification procedures.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1674267 - 03/07/12 03:10 PM Re: SM Loan App/Denial ackcompliance
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,749
On the Net
The POA is normal and you had a legitimate business reason to check credit. As Dan said, follow your normal procedure.
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AndyZ CRCM
My opinions are not necessarily my employers.
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