Document background
The Mortgage Loan Denial Letter is a crucial document in Singapore's banking and real estate financing sector, used when a financial institution needs to formally communicate the rejection of a mortgage loan application. This document must adhere to strict regulatory requirements set by the Monetary Authority of Singapore (MAS), including the Banking Act and Fair Practices in Lending Guidelines. It typically includes the application details, specific reasons for denial, and information about any available recourse. The letter serves both as a legal record and a transparent communication tool, ensuring compliance with Singapore's consumer protection and fair lending practices.
