keeanah
i am saying that if the loan officer can prove everything they put into the computer, you have a deal.
can it be denied? yes, there can be some things overlooked"
like 401k. if it is used as an asset to qualify, then you have to have access to it.(you dont have access to 'retirement accounts' because they arent really 401k)
the LO could have used bonus/commission that is not qualified.
ect
ect
if the loan officer is pretty decent, then you should be good.
i denied a borrower a week ago.... their debt ratio was too high. the realtor called me today to inform me that the chase loan officer's deal wasnt good. most likely because the chase bank LO was a newbie and didnt really know the inner workings of loans.
i can approve anyone for any amount if i put in bad numbers.... but those numbers have to be verified.validated.
i have hope that the LO who has never seen an automatd file denied.... has seen more tan a few files and can take a proper application.
Retired Lender