Even though we are waiting on a new Final Rule for Section 1071, members of our 1071 Thought Leadership, Implementation & Planning Membership Group are still learning valuable information each month. In August, we discussed applicants, applications and the application process. These are very important concepts for all of your lending areas, not just the commercial space.
Jerod touched on the importance of knowing when you have an application and the disposition of those applications, especially commercial applications.
This led to a discussion about documenting the application date and the potential consequences of not doing so:
We plan to discuss commercial denials during the September 1071 Group meeting so be sure to register for the group and join us!
Published
2025/09/05