Start Date: 9/25/2024 9:00 AM MDT
End Date: 9/25/2024 10:30 AM MDT
Location:
United States
Timely communication with applicants and existing borrowers is critical, especially when an application is being denied or pre-existing loan terms are changing. Notices are designed to communicate concerns to applicants and borrowers and explain how to complete loan application requests. Along with being an informational notice, a loan denial triggers Regulation B requirements, and depending on the reason for denial, a Fair Credit Reporting Act (FCRA) notice may also be mandated.
This webinar will focus on pinpointing when an inquiry becomes an application, important timing requirements, and proper completion of an adverse action notice and other notification options, including when there are unfavorable changes to the terms of an existing credit arrangement.
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