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#2047063 - 10/29/15 06:55 PM Loan Denied- Guideline for reapplying
workerbee Offline
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Joined: Oct 2015
Posts: 61
Where can I locate the guideline that if a lender declines an application, the applicant must wait 30 days before applying with the same lender?

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#2047065 - 10/29/15 06:57 PM Re: Loan Denied- Guideline for reapplying workerbee
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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Not in a federal regulation.
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Kathleen O. Blanchard, CRCM "Kaybee"
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#2047071 - 10/29/15 07:09 PM Re: Loan Denied- Guideline for reapplying workerbee
workerbee Offline
Member
Joined: Oct 2015
Posts: 61
Let me explain it a little better. A loan officer denied a file be within 3 days and did not disclose. The following day which would be after 3 days, the borrower provided information that could make the loan possible but it is past the 3 days for disclosures.

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#2047077 - 10/29/15 07:16 PM Re: Loan Denied- Guideline for reapplying workerbee
raitchjay Offline
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Joined: Oct 2009
Posts: 8,838
OK
I would notate the file as to the "new" application date and work on getting out early disclosures in the next 3 business days.
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#2047089 - 10/29/15 07:29 PM Re: Loan Denied- Guideline for reapplying workerbee
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,282
Agreed.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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