Application
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      3. Application

      What are the types of decision statuses?

      All decision statuses and what they mean

      Decision Status

      Approved- The application has been approved for 100% of what was requested as far as the amount financed and term. Confirm the loan rate and plan before sending documents. How to send documents

      Approval Notification Email:

      approval template 5.2

       

      Counter-Offered- The application is approved, but there is something different in the amount financed or term than what was requested, or the loan was brokered

      Counter Offer Notification Email:

      broker template stips 5.2

      Declined- The applicant, unfortunately, does not qualify for a loan at this time. The applicant(s) will receive an adverse action letter in the mail.

      Withdrawn- If the homeowner has decided to pay cash, we can withdraw the application from our system. However, this can be reactivated later if they do decide to use financing.