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HMDA - Recording a Withdrawn Application

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Question: 
HMDA Date Action Taken- if you have a file wherein the loan was approved, sent approval letter, but then Borrower never contacted you again - details on how to handle this please. Thanks!
Answer: 

Report it as an approved but not accepted and use the date of the approval letter as your action taken date.

An application for HMDA purposes cannot be reported as a withdrawn unless the applicant withdraws the application BEFORE a credit decision has been made.

First published on BankersOnline.com 1/17/05

First published on 01/17/2005

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