Thread Options
#1719917 - 07/13/12 04:39 PM App from broker - AAN???
QueenBB Offline
100 Club
Joined: Jan 2006
Posts: 190
TX
If a broker pulls a credit report and presents a commercial or ranch loan package to a bank to see if they would be interested......and the bank is not......is an AAN from the bank required?????

Return to Top
Lending Compliance
#1720164 - 07/15/12 07:35 PM Re: App from broker - AAN??? QueenBB
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,368
Galveston, TX
Yes. That is why you don't look at packages presented by brokers in which you have a signed agreement.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1722752 - 07/24/12 04:08 PM Re: App from broker - AAN??? QueenBB
QueenBB Offline
100 Club
Joined: Jan 2006
Posts: 190
TX
What if there is no agreement with any broker. This is just a commercial loan or ranch loan where the broker knows the bank has done similar in the past. They just send an app and package our way to see if we are interested.

Return to Top

Moderator:  Andy_Z