Do you know the difference between an inquiry and an application? Many lenders think they understand the difference, but we find quite often that this isn’t always the case. Knowing the difference is essential to maintaining compliance during the loan process.
Jerod explains more in the video.
Video Highlights:
- Jerod discusses the difference between an inquiry and an application, noting that applications trigger regulatory requirements while inquiries do not.
- Discrimination against a protected class, whether an inquiry or application, is illegal.
Published
2023/04/06
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!
