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Applications and Applicants – What you must know.

Recorded on September 06, 2018

Who in the bank absolutely must understand WHO is an applicant, WHAT is an application and WHEN was the application submitted - if in fact it is considered submitted? The answer is simple, everyone who is taking and processing that loan request needs to understand who the borrowers will be, who may be a cosigner or guarantor, who should receive what disclosures and when, as well as what timeframes the bank has to make and communicate decisions.

In this webinar, we will discuss:

  • What is considered a loan application?
    • ECOA vs. HMDA vs. TRID?
  • When does an inquiry become an application?
  • What is a pre-qualification?
  • What must be done with a pre-qualification request?
  • What is a pre-approval?
  • What must be done with a pre-approval request?
  • When must an application be in writing?
  • How do you handle applications not received in person?
  • Must applications be signed to be valid loan requests?
  • Can I require a spouse or someone else to sign?
  • When can I require someone to guaranty or co-sign?

This webinar is perfect for Compliance Officers who train or audit on loans, loan processors, other audit personnel and loan operations staff.

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