Who in the bank absolutely must understand WHO is an applicant, WHAT is an application and WHEN was the application submitted - if in fact it is considered submitted? The answer is simple, everyone who is taking and processing that loan request needs to understand who the borrowers will be, who may be a cosigner or guarantor, who should receive what disclosures and when, as well as what timeframes the bank has to make and communicate decisions.
In this webinar, we will discuss:
- What is considered a loan application?
- ECOA vs. HMDA vs. TRID?
- When does an inquiry become an application?
- What is a pre-qualification?
- What must be done with a pre-qualification request?
- What is a pre-approval?
- What must be done with a pre-approval request?
- When must an application be in writing?
- How do you handle applications not received in person?
- Must applications be signed to be valid loan requests?
- Can I require a spouse or someone else to sign?
- When can I require someone to guaranty or co-sign?
WHO SHOULD ATTEND:
This webinar is perfect for Compliance Officers who train or audit on loans, loan processors, other audit personnel and loan operations staff.
Applications and Applicants – What you must know
Webinar Q & A Document