Credit file documentation is a business decision. However, how a loan could be allowed to close for a different amount than what is reflected in the credit file really just leaves me scratching my head.
Disclosures - Changes to the Loan Amount
Do you need to document the credit file giving the reason if the application loan amount changed compared to the closing table amount, whether it is a consumer, commercial, or residential loan application?
First published on 09/18/2022