Need some thoughts on this issue. Application to purchase single family dwelling at 1000 Any Street for $50,000. Underwriting denies the application because they cannot find any record of 1000 Any Street. Nothing online, no tax records, etc.

Based on the FIG we cannot enter 0 for property value or CLTV but I don't think we should report NA either since the value (lack thereof) was considered. What should we report? Or would you say we don't have a HMDA application since the property could not be identified?

If you don't have a valid address, I would go back to the applicants. It could be it was a typo. Did anyone try this? It just sounds too automated to say "we can't verify the address, therefore, we're denying the request."

Loan Officer tried to contact the applicant but got no response. We were at our 3 days so rather than sending a LE on an unknown property the Underwriter denied it for collateral.

I would report as “NA”. I don’t think you relied upon the VALUE of the property. I think you relied upon the fact that the house didin’t exist.

Was it a preapproval and they just put that in for the address?

No, we don't offer pre-approvals and there is no place for an address on our pre-quals. It's an actual street but the number is not close to the other properties on the street. I'll report as NA with an explanation in file. Thanks David.