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#634157 - 11/03/06 06:36 PM hmda
gunches Offline
100 Club
Joined: Dec 2005
Posts: 210
Received a loan application to refi home.Debt ratio too high so counter-offered to consolidate all debt and lower debt ratio. Customer didn't accept offer and went elsewhere. What action taken code do I report this as?

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Lending Compliance
#634158 - 11/03/06 06:39 PM Re: hmda
someone else Offline
Power Poster
someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
This loan should be coded as denied. A couteroffer is a denial of the original loan terms.
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Somewhere, something incredible is waiting to be known. - Carl Sagan

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#634159 - 11/03/06 06:39 PM Re: hmda
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
3.00
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The opinions expressed are mine and they are not to be taken as legal advice.

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