We have an application to purchase a home, we had approved the deal but the purchase feel through. Is that approved but not accepted or withdrawn when reporting?
He had accepted the counteroffer and we were days from closing, when the seller changed his mind. So I have a counteroffer, accepted by borrower but now there is no loan to be closed. Is it a "approved but not accepted instead of a denial?
If a counteroffer does not result in an originated loan, it is reported as a denial (it reverts to the denial portion of the counteroffer notice). A counteroffer only has those two possible outcomes...originated loan or denied application.
_________________________ Kathleen O. Blanchard, CRCM "Kaybee" HMDA/CRA Training/Consulting/Mapping The HMDA Academy www.kaybeescomplianceinsights.com