Tue Apr 26 CDT (24 days ago)
In your timezone (EDT): Tue Apr 26 1:00am - Tue Apr 26 1:00am
This is a webinar with practical answers and clear guidance on Adverse Action Notices.
HERE IS WHAT YOU WILL LEARN:
• What is the definition of adverse action?
• When is an application complete?
• How many reasons for denial should you give?
• What are common errors in completing adverse action notices?
• What are the requirements for incomplete applications?
• How do you properly document withdrawn applications?
• What is the best approach in handling counteroffers?
• What are the timing requirements for denials under Regulation B?
• What if the denial reason came from the credit report or the credit score?
• What should you do if the borrower or co-borrower, or both, has bad credit or bad credit scores? Who gets the notice?
• What is the difference between the FCRA and ECOA notices?
• Is it important to conduct a second level review of adverse action notices for fair lending purposes?