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Reviewing the product and rate sheets supplied

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Twenty-four hours ago, you applied to a lender for a client who has had some credit challenges in the past. In reviewing the product and rate sheets supplied to you by the lender, you thought that they would approve the application as submitted. Unfortunately, you just received a decline from them, and you are puzzled as to why. You must now go back to the file and review it and possibly spend a couple of hours deciding on a new lender to submit it to. The questions of this discussion are:

a) What should you do now?

b) How can you prevent wasting time re-underwriting this application for a new lender in the future?

c) What might prevent this type of situation from occurring in the future?

Can you explain in every detail?

Reference no: EM132987208

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