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Adverse Action Notice for Denial Home Mortgage

Answered by: 
David A. Dickinson

Question: 
An application date is June 1st and the action date notice has a date of June 6th. Do we need to send the disclosures before the action date was June 6th and we missed the three day deadline? Also, can you give me an example in addition to the dates.
Answer: 

If you missed providing disclosures, sending them now won't fix the violation. If you have already sent the denial notice, why would you send disclosures? If you haven't sent the denial notice, why would you include disclosures with the denial notice?

You should "comply until denied". In other words, provide required disclosures at application, within 3 days, etc. until you deny the applicant.

First published on BankersOnline.com 9/26/11

First published on 09/26/2011

Filed under: 
Compliance
Filed under compliance as: 
Adverse Action
Disclosures

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