Posted By: MortComp
TBD No response - 03/31/21 07:59 PM
Since a TBD is not a HMDA (Reg C) file, if we do not have a response after a certain time is it acceptable to withdraw it in our LOS? Or can you just cancel it?
Posted By: Dan Persfull
Re: TBD No response - 03/31/21 08:17 PM
Do you track and retain your denied applications outside your LOS?
Posted By: MortComp
Re: TBD No response - 03/31/21 08:19 PM
Yes we track and retain our denied applications.
Posted By: Dan Persfull
Re: TBD No response - 03/31/21 08:45 PM
If you don't use the LOS for tracking the denials and the loan is not subject to HMDA reporting then whether you remove it from the LOS is up to you.