Looking at a non-originated loan file. Scenario:

- Applicant gives LO six pieces of info needed for RESPA app and asks if he might be able to refinance.
- LO calls back applicant the day after and the next day leaving message for applicant to call back.
- Instead of issuing early disclosures, the file is closed stating the app is withdrawn because the customer didn't respond.

In my head, this doesn't make sense but I'm wondering if I'm looking at it wrong. I would think we issue the early disclosures and include our normal notice of incompleteness letter listing the additional items needed. If the borrower doesn't respond after that then so be it but I'm not sure why (or how) we closed it within 3 days of application because the customer didn't call back. Am I missing something?

An applicant's failure to respond to messages is not a basis to consider the application withdrawn by the applicant. Only the applicant can expressly withdraw the application.

This is a denial for apparently an incomplete application and it does not appear the loan officer denied the loan within the required 3 business days since they treated it as a withdrawal.

Just curious.....what was incomplete regarding the application?

We would have needed paystubs, bank statements, etc. to fully underwrite.