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#1545129 - 05/04/11 12:41 AM Pre Qualification
Working From Home Offline
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Joined: Oct 2009
Posts: 254
We run home loan applicants through DU, and if they are approved we will issue a very conditional approval notice to the borrower (subject to all sort of things like verification, assets, income, employment, etc.). THis is only done so the borrower can shop with a realtor and say that he can afford a $XXX,000 house.

For HMDA purposes, is this a pre-qualification program?

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#1545294 - 05/04/11 02:04 PM Re: Pre Qualification Working From Home
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,832
Bloomington, IN
Yes, but it would not be a pre-approval program.
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The opinions expressed are mine and they are not to be taken as legal advice.

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