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#2195650 - 10/17/18 03:08 PM Counter-offer
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,180
If we do a counter offer on the loan amount for a mortgage loan based on the information that we have to underwrite the loan (stated income and credit report), can we also state on the counter notice that it's still subject to other conditions/requirements (verified income, title, value, etc.)? What is the appropriate way to state it without specifically listing every condition?

Thank You.

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Lending Compliance
#2195937 - 10/19/18 01:10 PM Re: Counter-offer banker-12
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Yes, you can provide a counteroffer and not be unconditionally locked into making the loan. I don't think you need to list every condition, just like you don't when someone first applies. Simply say "we can't do that, but could do this. Let us know by ____ (reasonable date) if you'd like to proceed."
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David Dickinson
http://www.bankerscompliance.com

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#2196047 - 10/22/18 02:08 PM Re: Counter-offer banker-12
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,180
Thank you

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