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In Response To:
Thread Starter: Rocky P
Title: Re: Withdrawn loan applications

Originally Posted By: Anonymous
For application that are withdrawn by borrowers do you send an adverse action notice with the reason as withdrawn or do you send a courtsey letter stating the loan has been withdrawn? Does anyone have a sample of a withdrawal letter sent by the lender.

Why does the bank send a letter to the borrower regurgitating what the borrower told the bank? It's not required, using an AAN confuses too many people, and it becomes part of required documentation which the bank could be criticized for later for not providing.