Compliance Advisor

Compliane Adv LOGOWhen an ‘on-line’ application comes in, it is assigned to a loan officer who then contacts the applicants.  If the application is approved, early disclosure are sent out, which contain the assigned loan officer’s MLO number.  If it is denied, an Adverse Action Notice is sent out, which does not contain the assigned loan officer’s MLO number. Does the assigned loan officer’s MLO number need to be on the Adverse Action Notice?  

Click here for answer!

Capital Comments

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is provided with the understanding that the publisher is not engaged in the rendering of legal, accounting or other professional advice - from a Declaration of Principles adopted by the American Bar Association and a Committee of Publishers and Associations.
Click for Capitol Comments!