eight. Step removed - preapproval demand declined. A financial institution account your preapproval request is refuted in the event the the application form is actually a request a preapproval below good preapproval system once the defined within the 1003.2(b)(2) additionally the facilities generated a credit decision doubting brand new preapproval request.
8. Step removed - preapproval consult approved but not accepted. A financial institution account that the preapproval consult try accepted but maybe not accepted should your app try an obtain a great preapproval significantly less than a beneficial preapproval program because the outlined into the 1003.2(b)(2) additionally the facilities produced a cards decision approving the new preapproval consult although app failed to produce a secure loan originated of the lender.
nine. Step taken - counteroffers. When the a loan company renders good counteroffer so you're able to give for the terms and conditions different from the newest applicant's first consult (instance, for a shorter mortgage maturity, with a different sort of loans Lisman AL interest rate, or in a unique amount) and also the candidate refuses so you can stick to the counteroffer otherwise goes wrong to reply, the school account the experience pulled just like the a denial towards the totally new terminology expected by the candidate.