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#2252589 - 04/19/21 04:09 PM Notice of Incomplete Application
Live&Learn Offline
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Live&Learn
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Posts: 241
South
Hello!

We sent a notice of incomplete application to a borrower because we were missing the loan amount.
The timeframe came and went and so now we are going to close the file.
I know for HMDA we will choose 'file closed for incompleteness', but for the NAT what could the reason for denial be?
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#2252597 - 04/19/21 04:45 PM Re: Notice of Incomplete Application Live&Learn
raitchjay Online
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OK
What's the "NAT"?
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#2252600 - 04/19/21 04:48 PM Re: Notice of Incomplete Application Live&Learn
Rocky P Offline
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Joined: Jun 2003
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Florida
Incomplete application
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#2252601 - 04/19/21 04:55 PM Re: Notice of Incomplete Application Live&Learn
raitchjay Online
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OK
If "NAT" somehow stands for the adverse action notice, you don't have to send one if you gave the notice of incomplete application.....so i'm not quite sure what the question is....
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#2252604 - 04/19/21 05:03 PM Re: Notice of Incomplete Application Live&Learn
Skittles Online
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TN
I would imagine it's 'Notice of Action Taken) - but that's just a guess.
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#2252609 - 04/19/21 05:15 PM Re: Notice of Incomplete Application Live&Learn
rlcarey Online
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Galveston, TX
I thought if the Action Code is 5 then the denial reason needs to be 1111 or 10?
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#2252613 - 04/19/21 05:24 PM Re: Notice of Incomplete Application Live&Learn
Live&Learn Offline
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South
Sorry, yes NAT is notice of action taken. Wasn't sure if the denial reason should be because 'incomplete application' or do as a 'withdrawn'. etc
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