Hey good afternoon,
Got a question that I'm unsure if I can get it out correctly. ;-)
Here is the background on this file: I have a loan file that I submitted to an Investor (to sell) as a Conventional Loan. They did all the Underwriting on the loan and had conditions issued on the file etc., by the Investor. When the Appraisal came back in low, the Investor really didn't have a type program the Borrower wanted and requested to Withdraw their loan. We had a Portfolio (In House) loan that the Borrower liked, so we told the Investor the Borrower wanted to withdraw the file with them.
So now I've started working on this file again to put on our Portfolio. IMO, we should start a new file# for the Portfolio loan and not keep the same file# as we did with the Investor, since we withdrew the loan with the Investor. The Investor reports the loan as Withdrawn on their LAR and then we would report this exact same loan technically on our LAR as Originated...if we still filed the HMDA LAR that is. I see it as a problem...but maybe I'm just over analyzing this situation.
Trust in the Lord with ALL your heart...Prov 3:5-6