Good Morning,

2) Notice of incompleteness. If additional information is needed from an applicant, the creditor shall send a written notice to the applicant specifying the information needed, designating a reasonable period of time for the applicant to provide the information, and informing the applicant that failure to provide the information requested will result in no further consideration being given to the application. The creditor shall have no further obligation under this section if the applicant fails to respond within the designated time period. If the applicant supplies the requested information within the designated time period, the creditor shall take action on the application and notify the applicant in accordance with paragraph (a) of this section.

**The Period given for the customer to complete the required documents is bussines days or calendar days?

Thanks,

It would be what ever period of time the bank would like to establish.

Perfect can be 10, 20 or 30 etc, but count the days, bussines or calendar days?

What ever you want to communicate to the customer.

rlcaley-Thanks

Sorry, rlcarey thankssss

For process purposes, pick a period of time sufficient to gather and provide the items you are requesting. Otherwise, you can end up still hanging.

Thanksss- Kathleen B

What if we set a 30 day time frame for a customer to provide their tax returns and the customer doesn't provide the tax return until day 35? Would we need a new application?

No. Even if closed the bank can reopen the application and continue on. It is up to the bank and its process.

The bank does have the option of starting again with a new ap number.

Hi,

Please help me get my “application” definitions straight: “application” under TRID is the six pieces of information. So in a mortgage application, if I send out the “Notice of Incomplete Application” under ECOA, do I violate TRID – because technically I have an “application”? How are the two regulations function together?

Thank you.