Joint application is received by the bank with one applicant having excellent credit and the other having terrible credit. For AAN purposes, if we provide the specific reasons for turndown to the terrible applicant such as repossession, delinquent past/present credit obligations with others, etc. and then provide an AAN to the excellent applicant, we should re-state repossession, delinquent credit obligations, etc. on the excellent applicant’s AAN as well - even though these reasons don't specifically apply to the excellent applicant himself, but are the primary reasons for the turndown. Correct?
We had a problem with debit card claims so we modified our deposit agreement. If they don’t cooperate in the claim process, we can deny it. Problem solved!
We want to offer an option to all escrowed borrowers to lump sum pay any deficiency or shortage. Since it’s optional, it should be OK. Do you agree?
We mailed the borrower’s Loan Estimate and they emailed us that it was received, and they want to proceed with the loan. Can we act on this emailed notice?
When and to whom must HUD’s SCRA mortgage notice be sent? We prefer to wait for the 45 day notice we already send.
When will the Q&A on private flood policies be released?
What has happened to flood penalties in 2020?
If we obtain consumer reports on our existing customers for purposes of reviewing their status, can we then send some of those customers a solicitation for an increase in their credit line?
Does the FCRA requirement to obtain permission for consumer reports apply to independent contractors or only employees?
Has the CFPB or the other regulatory agencies taken any action as a result of the COVID-19 pandemic to temporarily suspend or alleviate the FCRA regulatory burden that would affect how financial institutions obtain consumer reports from consumer reporting agencies?