What Decisions Do Credit Lenders Make?
There are three major decisions that a credit lender is empowered to make. 1. Loan Approval Approval is often given with conditions, such as the sale of current property, that require documentation for final approval. 2. Loan Suspension A loan is suspended when information is incomplete or questions remain unanswered in the loan application. The buyer must supply the needed information before a final decision can be made. 3. Loan Denial There are a number of reasons why your loan may be denied, and you’re entitled to know those reasons. If denial is based on your credit you’re entitled to a free copy of that report.
