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As we start to transition with the new demographic data collection, we have been revisiting some scenarios with loan officers. On the loan application, it states “Application Completed By”. This is obviously where the officer would complete, F2F, telephone, mail, etc. The question arose, if the loan officer e-mails a loan application to the client and the client e-mails the application back, would the loan officer complete this section as “mail?” Same goes, if a client is e-mailed the application and then the client drops off the application to loan officer (without speaking any further details of the transaction), how would the officer completed this section of the application? Is there a citation or a good place these scenarios could be illustrated? Thanks!
Here are the instructions but I don’t believe you’ll find any specific information on this section. I recommend you complete it to the best of your ability based on how you receive the information. For the scenarios you mentioned:
1)Officer e-mails a loan application to the client and the client e-mails the application back, would the loan officer complete this section as “mail?” I would mark “email or internet”
2)Same goes, if a client is e-mailed the application and then the client drops off the application to loan officer (without speaking any further details of the transaction),
I would mark “face to face”.
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