Application/LE

A customer brings in an application with the six items listed making it a complete application. Based off the income they provided on the application and information on the credit report underwriting does a quick calculation and determines that the customer will not quality for the loan. Can an Adverse Action be sent out within the 3 days?

If you (verbally) deny the application within 3 business days of receiving a TRID application, you don't owe them an LE, if that's the question. The AAN itself doesn't have to be mailed within 3 business days.

Thanks!