The Bank has a Prequalification program. We run credit and DU. When DU returns an approval, we provide a Prequalification letter identifying the parameters of the Prequal along with the conditions. When DU returns a referral, we provide a different letter that informs the client that based on the limited information provided at this time, we are unable to render a decision and we invite the client to complete a full application. Although the DU referral may have been generated because of a lower credit score, the Bank offers numerous products via secondary market, some with lower credit score criteria and because the Bank makes exceptions, we thought this was a reasonable option. So the question came up, instead of sending the letter that says we cannot make a decision at this time due to limited information, should be instead be sending an AAN. Both letters were drafted by outside Legal Counsel who has historically been very diligent about identifying regulatory requirements and they did not tell us to provide AAN....what are your thoughts.