Bulletin W14-009 – Update, Adverse Action Policy and Procedure

January 10, 2014Bulletins

Topic included in Bulletin W14-009:

  • Adverse Action Policy and Procedure have been updated
  • Updates include:
    • Adverse Action Policy
      • If loan cancelled or declined,  a copy of the appraisal must be sent to the borrower(s) within 30 days of the decision
    • Adverse Action Procedure
      • If loan cancelled or declined,  a copy of the appraisal must be sent to the borrower(s) within 30 days of the decision
      • Procedure updated for Encompass
  • Updates are effective immediately

Download: Bulletin – W14-009 (PDF)

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