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Time Limit to Correct Error on HELOC?

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Question: 
We have a customer who has a home equity loan. We found that about $8,000 in draws which were not posted to his account from a year ago. His loan is now almost maxed out. Is it too late to charge his account? Is there a time limit to correct our error?
Answer: 

Talk to your legal counsel. This is not a compliance issue.

First published on 07/12/2020

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