Borrower submits application for ARM loan which gets approved but not accepted. Borrower requests 30 years fixed instead, file goes back to underwriting, new disclosures are furnished and borrower accepts. Would you report the approved and not accepted ARM and also report the approved and accepted 30 years fixed? My gut feeling tells me to report only the approved and accepted 30 years fixed. Thanks for your input.

I would think you would report both.

Sounds like 2 separate applications to me - both should be reported. Doesn't sound like a negotiation.

Thanks guys,

I am going to offer a differing opinion based on how I'm reading the original post.

Applicant applies for an ARM loan. It is approved but the applicant changed their mind and requested the terms be changed to a fixed rate product. The requested changes are approved and the loan is consummated.

We would treat this as an amended application and only report the origination.