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#446607 - 10/25/05 04:08 PM **Need help!** dating a loan
Anonymous
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One of the officers wants one of the secretaries to type up a home purchace loan (note, TIL, HUD, etc.)dated July 17th. I have a gut feeling that he can't do this but am not sure how to prove it. Please help. Thank you.

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Lending Compliance
#446608 - 10/25/05 04:18 PM Re: **Need help!** dating a loan
Cowboys Fan Offline
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Joined: Dec 2002
Posts: 4,618
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What reason is the LO giving for doing this? Here's a good thread to read regarding backdating
Click Me
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#446609 - 10/25/05 04:25 PM Re: **Need help!** dating a loan
Anonymous
Unregistered

thank you, that did help. So the issue is really in falsefying docs, is that correct?

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#446610 - 10/25/05 04:28 PM Re: **Need help!** dating a loan
Cowboys Fan Offline
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Joined: Dec 2002
Posts: 4,618
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That seems to be the big issue.
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#446611 - 10/25/05 04:36 PM Re: **Need help!** dating a loan
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,408
Just another thought to heep on the pile against this...

The LO is either CYAing himself OR trying to 'help' the customer. Addressing the second, this 'help' in the hands of an attorney could lead to voiding the loan contract at the very least. How do you justify charging interest on money the borrower didn't get until 3 months later? Wouldn't an attorney have a field day with this?!

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#446612 - 10/25/05 05:39 PM Re: **Need help!** dating a loan
Anonymous
Unregistered

Thank you both. Much appreciated.

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