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#395646 - 08/03/05 12:56 PM Notice to Home Loan Applicant - Returned to Bank
Anonymous
Unregistered

I thought this issue has been discussed in the threads, but I searched the threads and couldn't locate the answer.

What is everyone doing if the notice to home loan applicant (credit score disclosure) is returned to the Bank due to a bad address?

Thanks.

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#395647 - 08/03/05 01:03 PM Re: Notice to Home Loan Applicant - Returned to Bank
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
Treat it as a "substantial discrepancy" under your CIP program and follow your resolution procedures outlined within.
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#395648 - 08/03/05 07:16 PM Re: Notice to Home Loan Applicant - Returned to Bank
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
I'm with Randy..I'd be very concerned about the reliability of my application information.
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My opinion only. Not legal advice.

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#395649 - 08/03/05 08:10 PM Re: Notice to Home Loan Applicant - Returned to Bank
Anonymous
Unregistered

Thanks for the guidance.

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#395650 - 08/04/05 03:32 PM Re: Notice to Home Loan Applicant - Returned to Bank
gonetobeach Offline
100 Club
gonetobeach
Joined: May 2004
Posts: 132
near Dallas
Make sure the address is the mailing address of the customer and not the physical location. We have had instances where mail was delivered to the physical address of the house (under construction or no mailbox) and then returned as "bad address".

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#395651 - 08/04/05 04:29 PM Re: Notice to Home Loan Applicant - Returned to Bank
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,752
On the Net
I'd say you should be thankful the loan isn't done yet, then go back and verify, verify, verify.
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My opinions are not necessarily my employers.
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