Loan items dropped at the branch

Answered by:

Question:

Customers frequently drop off loan applications along with deposits, loan payments, etc. at our branches. Loan Ops is located in our home office several miles away. Is there a problem with sending these along at the end of the week?

Answer:

It can most certainly be a BIG problem in delaying delivery of these items to the correct department/individual because there are several lending regulations that require a financial institution to take specific actions within a specific time after an application or a loan payment is received by the institution.

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