- the reasons given for rejection were valid;
- each rejection has the concurrence of an officer, senior staff person, or underwriter with sufficient approval authority, or a committee chaired by an officer, senior staff person, or underwriter with sufficient approval authority;
- the requirements of the Equal Credit Opportunity Act (ECOA) are met and documented in each file; and
- no civil rights violations were committed in the rejection of the application.
The Mortgagee must document the methodology used to review rejected applications, the results of each review, and any corrective actions taken as a result of the review Findings.
For additional information see Handbook 4000.1 V.A.2.b.iii(A) at: https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh