In a wholesale transaction how can a lender validate when a third party originator has gathered 6 pieces of information that constitutes an application?

There is not really a way I can think of that you can go in on a case-by-case basis—if there is that would be great for you. But you should have at least some protocols in place for managing the third parties that you’re doing business with.

This transcript has been edited from the May 2015 round table discussion for clarity and completeness.

Answered By: Andy Arculin