Customer comes in asks for a Refi-loan.
Loan is denied due to appraisal, but counter offer is made for a lower loan refi amount and a second Home Equity Loan (for home improvement)...
Customer "verbally" accepts the couter, so we open the home equity loan file on our system. After about 10 days customer decides they do not want to make EITHER loan...
How the heck do I close these and count these on my HMDA... the Refi one is easy, but what do I do with this home improvement loan? I only have the one app and a counter offer but it created two loans on my LAR...
Any help would be appreciated!
In life, there is a lot less that could get better and a lot more that could get worse.
MBA Fin/MBS HR
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