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#2054356 - 12/16/15 12:44 AM Adverse Action Retention
Mel in WA Offline
Diamond Poster
Joined: Mar 2013
Posts: 1,183
We are aware that Reg B requires declines/withdrawals be retained for 25 months. However, what if a Loan Estimate was issued and then the customer withdrew? Since the LE needs to be retained for 3 years, should we remove it and toss everything else related to the withdrawal? What is the risk of keeping the whole file for an additional 11 months?

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#2054447 - 12/16/15 05:16 PM Re: Adverse Action Retention Mel in WA
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,618
Galveston, TX
1026.25(c)(1) Records related to requirements for loans secured by real property.

Notice it says loans, not applications.
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