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When to Collect Government Monitoring Information

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Question: 
Regarding when to collect government monitoring information,if a loan officer did not disclose and collect gmi at the time of a loan application,is a bank allowed to gather gmi after closing.
Answer: 

Not technically. You could, but you still have a violation for not collecting it at application.

First published on BankersOnline.com 1/30/12

First published on 01/30/2012

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Filed under lending as: 

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