We have a situation with a secondary market real estate customer. Policy is to run credit for the construction phase of the loan. This particular customer had good credit so they qualified in the secondary market and construction began. At the end of the construction phase, their credit was re-ran before going to perm. You got it - the customer's credit had gone south, they no longer qualified for secondary market and the perm must now be made in-house. Question - as the construction phase took 9 months to complete, how is the denial handled for this department? > 30 days from completed application?

Thanks, Lisa

If they accept the in-house loan (counteroffer) there is no adverse action.