Back to another Denial question I'd like an opinion from you guys. We had a loan that had a Final Approval on the file but right as it got to closing apparently an ex husband would not sign a quit claim deed so we were unable to close the loan for the borrower. Because they never could get it resolved she finally said she didn't want to do the loan.
I felt it should have been denied but we coded as ANA. When I questioned about the Denial this was the response as to why we couldn't deny: ​For this loan, we can't deny this loan based on a seller issue, in this case, one of sellers ex-husband refuses to sign the Quit Claim deed.
In my opinion we have "refused to grant credit" so this should have been Denied regardless if it was a seller or borrower issue, we can't approve a loan without clear title...right?
Am I thinking correctly?
Thanks,
Karen
_________________________
Trust in the Lord with ALL your heart...Prov 3:5-6