All employees should be trained to route any phone call, email, letter or other communication that alleges any type of error related to a home equity loan.
The lender has sixty days from the date of notification that an error or mistake was made in connection with the home equity loan. There is no single format that a consumer must use, thus phone calls can suffice if the consumer can prove the call was given. Train all employees to document and transfer any alleged home equity error to the appropriate compliance person immediately.