A creditor must notify an applicant of an adverse action within 30 days after receiving a completed application. 12 CFR 1002.9(a)(1)(i). Subsection 1002.9(g) governs situations where a bank sends applications to multiple investors (each of which is considered a “creditor” under the regulation’s definitions). It states that a creditor would not have to notify an applicant of an adverse action if the applicant accepts credit from at least one of the creditors. But this would not remove the requirement to inform the applicant of the credit decision within 30 days of the completed application. So even if the bank finds an investor willing to accept an application for credit on day 31, the bank would still have to provide an adverse action notice to the applicant by day 30. 

(g)Applications submitted through a third party.—

When an application is made on behalf of an applicant to more than one creditor and the applicant expressly accepts or uses credit offered by one of the creditors, notification of action taken by any of the other creditors is not required. If no credit is offered or if the applicant does not expressly accept or use the credit offered, each creditor taking adverse action must comply with this section, directly or through a third party. A notice given by a third party shall disclose the identity of each creditor on whose behalf the notice is given.