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#2192620 - 09/14/18 03:29 PM Application/LE
Shirley Vigil Offline
New Poster
Joined: Sep 2018
Posts: 2
A customer brings in an application with the six items listed making it a complete application. Based off the income they provided on the application and information on the credit report underwriting does a quick calculation and determines that the customer will not quality for the loan. Can an Adverse Action be sent out within the 3 days?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2192621 - 09/14/18 03:33 PM Re: Application/LE [Re: Shirley Vigil]
raitchjay Offline
Power Poster
Joined: Oct 2009
Posts: 7,994
OK
If you (verbally) deny the application within 3 business days of receiving a TRID application, you don't owe them an LE, if that's the question. The AAN itself doesn't have to be mailed within 3 business days.
_________________________
I'm fixin' to fix that.

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#2192626 - 09/14/18 03:47 PM Re: Application/LE [Re: raitchjay]
Shirley Vigil Offline
New Poster
Joined: Sep 2018
Posts: 2
Thanks!

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