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#1230660 - 08/11/09 01:36 PM AAN for a pre-qual
Many Hats Offline
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Joined: May 2008
Posts: 915
Orlando, FL
When we receive an application for a mortgage loan and it's a pre-qual (the address is TBD), if we determine that the borrower does not qualify (DTI too high), aren't we required to send an AAN?

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Lending Compliance
#1230690 - 08/11/09 02:17 PM Re: AAN for a pre-qual Many Hats
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
Yes. See the Commentary to 202.2(f)(3).
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1230692 - 08/11/09 02:20 PM Re: AAN for a pre-qual Dan Persfull
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
Thanks!

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