A loan application has been approved (and approval communicated to the applicant). If the loan is not consummated within 30 days following approval and the applicant does not request that it be kept open for longer, the record is "closed" in our sysem.
It doesn't seem that we would have to issue an AAN at that point because we already approved the application for credit. Can someone point to where I can find this in the regs?
Opinions are my own.
"I was gratified to be able to answer promptly. I said I don't know." - Mark Twain