Skip to content

Regulation B Applications vs TRID Application

Question: 
Can a bank say they don't have a "completed" application (for Reg B purposes) until they have the 6 pieces of information required under TRID? And if yes, should it be documented in the procedures?
Answer: 

No. You cannot use the TRID definition of application to meet / satisfy other requirements under Regulation B. Regulation B does allow you some leeway in defining what is a “completed application”. If you want to line that up with TRID’s definition (6 items), that is fine; however, you could still have a Regulation B “application” (vs. “completed application”) before receiving the 6 items.
-----------------------------
Learn more about David Dickinson’s webinar
Applicants and Applications

First published on 09/03/2017

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics