Skip to content

AAN? We don’t make those loans.

Answered by: 

Our lender had a request for a reverse mortgage. He provided an Adverse Action Notice, but did he have to, since we don’t offer reverse mortgage loans?

Reg B allows that if a credit plan is not offered by the bank but is requested, no adverse action is necessary. The bank is free to provide one, no harm no foul, but would not be faulted for not doing so.

Learn more about Andy Zavoina’s webinar A to Z of Reg B – Basic Training

First published on 05/19/2019

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics