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Owner Occupied Refi Loan Declined Debt/Income

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Question: 
An owner occupied RE Refi loan was declined due to debt/income. He now has his son, who does not reside in the home, as a co-borrower. Do I need to redisclose to both or are the original disclosures sufficient?
Answer: 

Sounds like a new loan application to me and I would start the process from scratch.

First published on BankersOnline.com 11/12/12

First published on 11/12/2012

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