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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
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.
The opinions expressed here should not be construed to be those of my employer:

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