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#2231378 - 02/20/20 04:59 PM AAN for Low Fico Score 3 Guarantors
Florist Gump Offline
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Joined: Feb 2020
Posts: 12
The applicant in this case is the business entity. Loan is being denied due to all 3 guarantors having low FICO score.

Denial Reason: Low FICO Score

Disclosure for Use of Information Obtained from an Outside Source is checked off on AAN.

I believe one AAN is sufficient with the above info. Does anyone think 3 AANs (same denial reason) for each guarantor w/ their credit score discolosed would be the better option?

TIA.

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Fair Lending
#2231386 - 02/20/20 05:58 PM Re: AAN for Low Fico Score 3 Guarantors Florist Gump
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 76,928
Galveston, TX
Guarantors are not applicants - they don't get a AAN.

Your denial reason to the entity is "lack of credit strength of the guarantors".
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#2231395 - 02/20/20 06:24 PM Re: AAN for Low Fico Score 3 Guarantors rlcarey
Florist Gump Offline
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Joined: Feb 2020
Posts: 12
Got it. Thanks again!

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#2232281 - 03/04/20 02:59 PM Re: AAN for Low Fico Score 3 Guarantors Florist Gump
InFairness, CRCM Offline
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InFairness, CRCM
Joined: Nov 2010
Posts: 542
USA
Just as a side note, an AAN with a reason of "low FICO score" does not satisfy the requirements of Regulation B. See Official Staff Interpretation of Regulation B (Supplement I to 12 CFR 1002.9(b)(2))
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