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In Response To:
Thread Starter: Al Miller
Title: Re: Withdrawn loan applications

There are 2 possible scenarios. If the applicant asked for a loan at your "best" rate and you offer 9% and the applicant goes somewhere else for 8%, that is approved, not accepted.

If, however, the applicant asked for a loan at 8% and you counter with 9%, that unaccepted counteroffer is a denial.

A subtle distinction.