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#2266987 - 02/28/22 06:19 PM Withdraw vs Denial non-real estate
Angela Offline
Junior Member
Joined: Sep 2014
Posts: 31
We have a customer that called over the phone and applied for an auto loan while at the dealership. We went through the entire application process and approved his loan. He never came into the bank to sign any documents and will not return our calls. We can see where he wrote a check to the dealership for a down payment so we assume he decided to get the loan through them. Again he will not answer our calls or call us back. Can we withdraw the application? Technically he has not "expressly withdrawn" but he is also not responding.

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#2266989 - 02/28/22 06:23 PM Re: Withdraw vs Denial non-real estate Angela
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 80,393
Galveston, TX
If you approved the loan and communicated that to the consumer, you are done. An application cannot be withdrawn after a credit decision has been made.
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#2266990 - 02/28/22 06:23 PM Re: Withdraw vs Denial non-real estate Angela
M Cockrell Offline
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M Cockrell
Joined: Jan 2003
Posts: 1,038
Dallas, TX
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"Remember no man is a failure who has friends." - Clarence (the Angel) Oddbody - It's a Wonderful Life

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#2266991 - 02/28/22 06:27 PM Re: Withdraw vs Denial non-real estate Angela
Angela Offline
Junior Member
Joined: Sep 2014
Posts: 31
Thank you both!

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