Loan Denials & Privacy

When you deny a request for credit, Regulation B says the primary applicant must receive all the reasons for the denial.  That means the reasons the primary applicant was denied, as well as, the reasons any co-applicant(s) was denied.  When we train lenders, this always seems to make them a little nervous.  They believe doing so may violate an applicant’s privacy.

David explains more in the video.

Published
2021/04/11

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