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Are RESPA documents required to be in adverse action files when a property has not been identified?

April 26, 2017Action adverse documents files Property RESPA

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Are RESPA documents required to be in adverse action files when a property has not been identified?

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A. No, RESPA documents are needed when the application is for a mortgage loan on a particular property. If no specific property has been identified, then the borrower is trying to pre-qualify for credit and not yet applying for a mortgage loan.