Inquiry vs. Application

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