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Application means an oral or written request for a covered loan that is made in ance with procedures used by a financial institution for the type of credit requested.
Answer: YES! The regulatory requirement for lenders to collect demographic information dates back to 1977 and is used by regulators to help detect mortgage lending discrimination.
The definition of application An application (more commonly known as an app) is software that bundles together certain features in a way that is accessible to a user. There are millions of apps on both the App Store and Android app stores, offering services (or verticals).
A completed application means an application in connection with which a creditor has received all the information that the creditor regularly obtains and considers in evaluating applications for the amount and type of credit requested (including, but not limited to, credit reports, any additional information requested
The Equal Credit Opportunity Act (ECOA) via Regulation B Section 202.2 defines application as follows: Application means an oral or written request for an extension of credit that is made in ance with procedures established by a creditor for the type of credit requested.
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Government monitoring information may be used in a credit decision. Institutions subject to HMDA must collect data on covered transactions that include business-purpose closed-end loans and open-end lines of credit that are secured by a dwelling and are home purchase loans, home improvement loans, or refinancings.
Regulation Z, on the other hand, says for purposes of TRID an application consists of the submission of the consumers name, the consumers income, the consumers social security number to obtain a credit report, the property address, an estimate of the value of the property, and the mortgage loan amount sought.

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