Communication Retention - Bank and Builder?

Posted By: ComplyCycle

Communication Retention - Bank and Builder? - 05/10/22 09:27 PM

Hi, does anyone consider communication between the bank and the builder to be servicing-related communications of the type that must be retained for a specific period of time? In my opinion, this communication has no record retention requirements.

Thank you.
Posted By: rlcarey

Re: Communication Retention - Bank and Builder? - 05/10/22 11:13 PM

No, but if you get into a lawsuit, such communications might become important.
Posted By: ComplyCycle

Re: Communication Retention - Bank and Builder? - 05/11/22 12:27 PM

Great feedback - thank you. I appreciate the quick response.