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AOD denial for DTI

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GatorGuy
Valued Contributor

AOD denial for DTI

UPDATE: So after recon they came back and offered $5k. This is half of DW lowest CL. Sounds like they basically denied all of her self employed income although it was stable and from the same companies for years. Never seen anyone bat an eye before including for a mortgage, refi and multiple car loans.

 

Hopefully they'll give frequent CLI although I'm not holding my breath.😂

 

 

 

Original post:

Wife just got outright denied. I'm trying to see if they will do recon for a lower limit since she applied for $25k but not sure they will since they didn't offer a lower CL. 

 

Reason for denial was DTI but our monthly DTI is 7% and we don't carry any CC balances. She had no inquiries since June of 2020 and had 3 at that time for a refi. Her FICO 8 EQ is 817. $25k would be her second lowest CL. TCL is maybe half our annual income.

 

Anyone have any luck in getting AOD to recon? 

Message 1 of 15
14 REPLIES 14
CreditCuriosity
Moderator Emeritus

Re: AOD denial for DTI


@GatorGuy wrote:

Wife just got outright denied. I'm trying to see if they will do recon for a lower limit since she applied for $25k but not sure they will since they didn't offer a lower CL. 

 

Reason for denial was DTI but our monthly DTI is 7% and we don't carry any CC balances. She had no inquiries since June of 2020 and had 3 at that time for a refi. Her FICO 8 EQ is 817. $25k would be her second lowest CL. TCL is maybe half our annual income.

 

Anyone have any luck in getting AOD to recon? 


You sure your DTI is 7% or do you mean utilization?

Message 2 of 15
Slabenstein
Valued Contributor

Re: AOD denial for DTI

Reports here seem to indicate that AOD can be pretty picky/conservative about what they consider income.  Was the income your wife put down on that app all from her own non-bonus salary/wages, or does she have other sources?


Message 3 of 15
GatorGuy
Valued Contributor

Re: AOD denial for DTI


@CreditCuriosity wrote:

@GatorGuy wrote:

Wife just got outright denied. I'm trying to see if they will do recon for a lower limit since she applied for $25k but not sure they will since they didn't offer a lower CL. 

 

Reason for denial was DTI but our monthly DTI is 7% and we don't carry any CC balances. She had no inquiries since June of 2020 and had 3 at that time for a refi. Her FICO 8 EQ is 817. $25k would be her second lowest CL. TCL is maybe half our annual income.

 

Anyone have any luck in getting AOD to recon? 


You sure your DTI is 7% or do you mean utilization?



DTI is 7%. Utilization was 6%.

Message 4 of 15
GatorGuy
Valued Contributor

Re: AOD denial for DTI


@Slabenstein wrote:

Reports here seem to indicate that AOD can be pretty picky/conservative about what they consider income.  Was the income your wife put down on that app all from her own non-bonus salary/wages, or does she have other sources?


She is self employed but has 1099 income all in her name.

Message 5 of 15
Slabenstein
Valued Contributor

Re: AOD denial for DTI


@GatorGuy wrote:

@Slabenstein wrote:

Reports here seem to indicate that AOD can be pretty picky/conservative about what they consider income.  Was the income your wife put down on that app all from her own non-bonus salary/wages, or does she have other sources?


She is self employed but has 1099 income all in her name.


If her actual monthly DTI is so low, then it may be that they're not counting all of that income for whatever reason.  They should be able to tell her if that's the issue.


Message 6 of 15
Anonymous
Not applicable

Re: AOD denial for DTI


@GatorGuy wrote:

Wife just got outright denied. I'm trying to see if they will do recon for a lower limit since she applied for $25k but not sure they will since they didn't offer a lower CL. 

 

Reason for denial was DTI but our monthly DTI is 7% and we don't carry any CC balances. She had no inquiries since June of 2020 and had 3 at that time for a refi. Her FICO 8 EQ is 817. $25k would be her second lowest CL. TCL is maybe half our annual income.

 

Anyone have any luck in getting AOD to recon? 


Does DW have SLs on any sort of income based repayment plan?

Message 7 of 15
babygirl1256
Senior Contributor

Re: AOD denial for DTI

@GatorGuy Wow, denial with a 817 credit score is a bummer . . . Hoping that DW is approved on a recon!

Starting FICO 8 Score in 06/2019: EQ-625, TU-649, EX-640
Current FICO 8 Score in 06/2021: EQ-796, TU-806, EX-812
Goal FICO 8 Score in 06/2022: EQ-825, TU-850, EX-850
Message 8 of 15
M_Smart007
Legendary Contributor

Re: AOD denial for DTI

@GatorGuy, Sorry for DW's denialSmiley Sad

Message 9 of 15
GatorGuy
Valued Contributor

Re: AOD denial for DTI


@Anonymous wrote:

@GatorGuy wrote:

Wife just got outright denied. I'm trying to see if they will do recon for a lower limit since she applied for $25k but not sure they will since they didn't offer a lower CL. 

 

Reason for denial was DTI but our monthly DTI is 7% and we don't carry any CC balances. She had no inquiries since June of 2020 and had 3 at that time for a refi. Her FICO 8 EQ is 817. $25k would be her second lowest CL. TCL is maybe half our annual income.

 

Anyone have any luck in getting AOD to recon? 


Does DW have SLs on any sort of income based repayment plan?


Everything is PIF every month. 

Message 10 of 15
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