The bank is required to provide notification of approval or denial of a loan request within 30 days.

What do we do if the lender does not receive information required to make a credit decision, i.e. an appraisal does not come back in time?

Would we satisfy the Regulation B requirements by contacting the customer with an approval subject to the appraised value --then what do we do if the appraised value isn't sufficient?
Send an adverse action notice then?

What are other banks doing?

That's how I do it.

Conditional Approval Letter when the appraisal has not be received, then an Adverse Action notice if the appraisal is received and is insufficent.

We just document in the file the reason action wasn't taken. Examiners have been OK with that so far.

Thanks all for you help!