Answer:
Answer by Kathleen Blanchard:If the bank has not yet made a credit decision to approve or deny the application, you can mark your file that the application was withdrawn. If the bank had made a decision and advised the applicant, you must go with that decision (approved not accepted, or denied).
Answer:
Answer by Jim Bedsole:To go a step further, you need to define what you consider to be an application. You mention that the phone call began a verbal application. Did you collect all the information designated as an application? If not, then you may simply have a decision not to apply rather than a withdrawn application.
First published on BankersOnline.com 12/13/10
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