Posted By: Mel in WA
Adverse Action Retention - 12/16/15 12:44 AM
We are aware that Reg B requires declines/withdrawals be retained for 25 months. However, what if a Loan Estimate was issued and then the customer withdrew? Since the LE needs to be retained for 3 years, should we remove it and toss everything else related to the withdrawal? What is the risk of keeping the whole file for an additional 11 months?