Posted By: Permissible Purpose
LAR Reporting- Info Not Provided By Applicant - 08/21/20 07:58 PM
Hello everyone,
Hopefully you are all staying safe.
I am sure that this question may have been answered already, so forgive me for asking again. A quick search did not yield any results.
For apps that are not taken in person, say online, and the borrower elects to choose "info not provided by applicant in mail", for the corresponding visual observation field, what should you report? Code 3 (NA) or Code 2 (Not Collected Based on Visual Obs.). In a review of the 2020 FIG, the edit check does require a value, so this field cannot be left blank. Unfortunately, the edits do not specify what you must report in this case.
Thank you!
Hopefully you are all staying safe.
I am sure that this question may have been answered already, so forgive me for asking again. A quick search did not yield any results.
For apps that are not taken in person, say online, and the borrower elects to choose "info not provided by applicant in mail", for the corresponding visual observation field, what should you report? Code 3 (NA) or Code 2 (Not Collected Based on Visual Obs.). In a review of the 2020 FIG, the edit check does require a value, so this field cannot be left blank. Unfortunately, the edits do not specify what you must report in this case.
Thank you!