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Disclosures - Changes to the Loan Amount

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Question: 
Do you need to document the credit file giving the reason if the application loan amount changed compared to the closing table amount, whether it is a consumer, commercial, or residential loan application?
Answer: 

Credit file documentation is a business decision. However, how a loan could be allowed to close for a different amount than what is reflected in the credit file really just leaves me scratching my head.

First published on 09/18/2022

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