CA, Single-Family, Refinance, $297K, 650 FICO, 78% LTV
Posted on 8/7/2013 1:27:05 PM
we got a desktop underwriting result - Refer with Caution
I am checking to see if any other lenders will be able to fund the loan..
The reasons are outlined below.. the main reasons that I have been told is the recent adding of credit does not have enough seasoning only on the accounts 2-3 months and the high balance (american express) to available credit ratios.
I am trying to find out if anyone would know the account seasoning question (how long does the account has to report)..
The following aspects of the borrower's loan application had a significant adverse impact on the
recommendation. Additional information about each of these risk factors can be found in the Lender
Guidance For Use With Applicants section of this report:
Number of Units
Total Expense Ratio
Credit: The following items in the borrower's credit report had an adverse impact on the borrower's credit
profile. Additional information about all of these risk factors can be found in the Lender Guidance For Use
With Applicants section of this report:
Utilization of revolving credit