Cancelled, Denied, & Withdrawn Policy 2/26/2015

Cancelled: (Prior to moving file to the Pending CD & Withdrawn Folder) -Type “Cancelled for Inactivity” under the ‘Description of Action Taken’ tab, on the Statement of Denial Screen. -Change the ‘Action Taken’ tab, on the HMDA Information screen from “Active Loan” to “Application Denied”.

Denied: (Prior to moving file to the Pending CD & Withdrawn Folder) -Choose reason for denial, on the Statement of Denial Screen, under the Principal Reason(s) for Credit Denial, Termination or Other Action Taken: section. -Change the ‘Action Taken’ tab on the HMDA Information screen from “Active Loan” to either “Application Denied”.

Withdrawn: (Prior to moving file to the Pending CD & Withdrawn folder) -Upload support documentation to eFolder, or… the Loan Officer (LO only) must add a note into the conversation log, stating time/date of when they spoke to the Borrower that requested to withdraw/cancel. That way, in the case that this file gets audited, we can use that time/date to track down the recorded phone call, proving the Borrower chose to withdraw/cancel. (This is why we strongly encourage Loan Officers to make all business related calls on their work phones.) -Type “Withdrawn by Borrower” under the ‘Description of Action Taken’ in Statement of Denial Screen. -Change the ‘Action Taken’ tab on the HMDA Information screen from “Active Loan” to “Application withdrawn”.