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Loan items dropped at the branch

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?

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.

Learn more about Patricia’s webinar Frontline Compliance Balancing Act

First published on 08/14/2016

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