An application is taken on May 1st. By May 30th the customer has not returned most of the documentation needed in order to underwrite the file. What must be issued by the end of the day?
A. An Adverse Action Notice
B. A Notice of Incomplete Application
C. A Notice of Action Taken
D. An Interest Rate Lock Extension Request
Answer:B
An application is taken on May 1st. By May 30th the customer has not returned most of the documentation needed in order to underwrite the file. What must be issued by the end of the day?
A. An Adverse Action Notice B. A Notice of Incomplete Application C. A Notice of Action Taken D. An Interest Rate Lock Extension Request