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#2221926 - 09/19/19 06:29 PM Approved Borrower Reject or Denial
jlroberts Offline
Diamond Poster
jlroberts
Joined: Sep 2009
Posts: 1,574
Ohio
We have a loan the was approval back in February that has not closed yet due to title issues (judgement liens on the seller). The seller has not cleared the issues. I want to get this out of the pipeline. Is this an Approved - Rejected? If so, do I set the Action Date as the expiration date listed on the original commitment (March). Or is it a Denial due to ?? Unable to provide clear title, even though it's not their fault.
Any guidance would be appreciated.

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#2221969 - 09/20/19 02:16 PM Re: Approved Borrower Reject or Denial jlroberts
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,344
Do the borrowers want to keep this open or have they chosen a different house? If they told you they were going with a differnt property than the date of that notification to you is the action date.
Title is a normal condition so this would be Approved but Not Accepted.

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#2221979 - 09/20/19 02:50 PM Re: Approved Borrower Reject or Denial jlroberts
Inherent_Risk Offline
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Joined: Jan 2017
Posts: 363
I realize this is a HMDA question, and I agree with TR that this is ANA for HMDA, but you would still need to provide an AAN under Reg B.

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#2221987 - 09/20/19 03:43 PM Re: Approved Borrower Reject or Denial Inherent_Risk
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,344
risk is right. See this thread for further discussion.

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