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BankersOnline.com Forums State-Specific Compliance Issues Indiana Adverse Action notice for investment property
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#549440 - 05/17/06 12:53 PM Adverse Action notice for investment property
figgy0923 Offline
Member
Joined: Oct 2005
Posts: 58
indiana
An individual applies for a mortgage loan to buy an investment property, the loan is denied based on credit report information. Are the requirements for an adverse action notice the same as if it was a loan for a primary residance? Just want to reaffirm.

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#549441 - 05/17/06 01:37 PM Re: Adverse Action notice for investment property
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
The requirements of Reg. B's 202.9 and its Commentary apply to all credit requests.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#549442 - 05/17/06 03:12 PM Re: Adverse Action notice for investment property
figgy0923 Offline
Member
Joined: Oct 2005
Posts: 58
indiana
So I am not crazy. Thanks for your help.

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