Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance ADverse Action-Customer Withdrew?
Thread Options
#2118323 - 02/15/17 04:23 PM ADverse Action-Customer Withdrew?
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
Can our Adverse Action say "customer withdrew" if it appears a loan decision had been made before the customer withdrew? It was approved in this case.

Return to Top
Lending Compliance
#2118324 - 02/15/17 04:25 PM Re: ADverse Action-Customer Withdrew? mdog76
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,350
Galveston, TX
If you approved the loan application, why are you sending an adverse action notice?
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2118325 - 02/15/17 04:32 PM Re: ADverse Action-Customer Withdrew? mdog76
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,655
Florida
NO! - an adverse action is for an Adverse Action. If you want a piece of paper in the file to reflect a decision or action, put in a memorandum.
_________________________
Integrity. With it, nothing else matters. Without it, nothing else matters.

Return to Top

Moderator:  Andy_Z