Common Mistakes On Loan Applications That Should Be Avoided
When a customer submits an application, it goes through hundreds of checks.
There are Automated checks that look for data concerns.
There are common sense checks that look to see if the question in the application form has been answered and answered correctly.
There are fact checks that look to see if someone working in a supermarket is on a salary that someone working in a supermarket should be on. And other facts too!
There are checks against rules that the company has created.
There are verified pieces of data to be checked.
There are hundreds of different checks that systems and underwriters do when an application is submitted.
So if you make a mistake on your application form, or you answer a question wrong. You are going to get declined quickly.
If you do not want to be declined for incorrect reasons – do not give incorrect information.
Read the questions, and answer the questions properly.
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