Under Reg B notification requirements, when an applicant is advised their application is approved pending additional documentation, (i.e. bank statements, insurance policies, loan payoff information, etc.) is this considered an approval or incomplete application under Reg B?
I saw a post on the BOL website from 2018 by David Dickinson titled "Applicant Re-Apply w/Co-Borrower: Counteroffer?" It was unclear to me whether the lender's requirement to add a co-borrower constitutes an "other term" as part of a "counteroffer" or whether the requirement to add a co-borrower requires the denial and written adverse action of the borrower and a new application by the borrower and co-borrower (i.e. is requiring a co borrower really a counter offer). I would appreciate any clarification on the issue.
What is the HMDA purpose classification when refinancing a construction loan and converting it to permanent financing - purchase or refinance?
When would a loan assistant interact with a customer?
What types of commercial loan documents are commonly “imaged”?
What does a loan assistant do?
What does a loan producer do at the bank?
What are the basics we should look for in a loan document management app?
How has loan imaging software impacted the need for bank couriers?
Assume we have a real estate application with all six needed items received on the weekend when
business is closed. We open only Monday - Friday but it could come in electronically. Is the deadline for TRID's loan estimate Wednesday or Thursday?