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#2012507 - 05/06/15 06:40 PM Counteroffer-Second AAN Required?
ItsJustMe Online
Gold Star
Joined: Dec 2009
Posts: 292
New York
I wasn't able to find the answer to exactly our scenario... close but not close enough.

As an example, we send a combined AAN and ocounteroffer based on LTV, counteroffering amount to 10k. They accept c/o but when they finally send in their proof of income and we verify their it we can only offer 9,500 based on DTI ratio.

Since we now can't approve the second c/o based on a different reason, do we send a second AAN with c/o (or an AAN, depending on the situation?)

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Lending Compliance
#2012552 - 05/06/15 07:48 PM Re: Counteroffer-Second AAN Required? ItsJustMe
ItsJustMe Online
Gold Star
Joined: Dec 2009
Posts: 292
New York
Thoughts anyone?

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#2012587 - 05/06/15 08:32 PM Re: Counteroffer-Second AAN Required? ItsJustMe
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Since you received verifications that won't allow you to do what you offered, I think you should offer a 2nd counter-offer. It can be over the phone/oral. If they don't accept, you'll need to send a written AAN, however, so it's always safe (and possibly cleaner) to send the combined AAN/Counter-offer.
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David Dickinson
http://www.bankerscompliance.com

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