It is my understanding that we have 30 days to notify the customer of our loan decision when denying the request. My question is, does the letter date have to reflect the same date of denial? I had a loan officer deny a mortgage loan within three days of application to avoid early disclosure requirements, but then the application was re-activated and the lender made a second decision with a later date. This second decision date makes the denial notice reflect more than three days from the application date. Any advice?
How does fair lending impact commercial loans, which is not “consumer protection” controlled?
For a home improvement loan, is the Purpose = Home Equity?
What is exception automation?
How can my bank make sure we correctly classify our employees as a Mortgage Loan Originator or a Loan Originator? It is confusing