Answer:
If you want to avoid providing the GFE and ETIL then you must deny the application within 3 business days from the receipt of the application.
First published on BankersOnline.com 1/17/11
Denial Deadline under RESPA
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Question:
What is the deadline for denying an initial mortgage application under RESPA? I am aware that disclosures must go out within 72 hours if the loan is not denied. Can I wait more than 72 hours to deny, or must I deny the loan within 72 hours if I have not disclosed it?
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