Loan Application vs. Loan Inquiry

Knowing when you have a loan application and when you have a loan inquiry is the foundation of lending compliance.  It’s also something that causes a lot of confusion.  The receipt of an application triggers a number of different regulatory requirements from TRID, Regulation B, HMDA, etc.  Yet, not all regulations define “application” the same.  Inquiries, on the other hand, don’t necessary trigger any regulatory requirements but they can very easily become applications.

David explains more in the video.

To learn more, be sure to JOIN US for our webinar, “Applicants & Applications”.


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