Be sure to JOIN US for our webinar, “Adverse Action Notices”.
Did you know that you don’t have to tell an applicant “why” you’re denying them, at least initially? In 1002.9(a)(2) it says to give the applicant a statement of specific reasons for the action taken; OR a disclosure of the applicant’s right to a statement of specific reasons within 30 days. Many lenders are unaware they even have an option of a “no reasons” denial.
David explains it in more detail.
- Who, What, Where, When & How
- Regulation B & Fair Credit Reporting Act Notification Requirements
- Denied Applications
- Notices of Incompleteness
- Counteroffers / Counteroffer Denials
- Notification Timing Requirements
- Fair Lending Intersections
- Multiple Applicants, Record Retention & Much More!
Designed for loan officers, loan processors, compliance and audit personnel.
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