Hi there
I wanted to know few things while the application for loan is forwarded to Verification I just wanted to know if the verfication result/remark is negitive How vital that application or how serious is that application valuable for the banker to issue a loan if the same person is applied again i mean i wanted to know how will u prsent that remark to the banker do u have any documentation on this.

looking forward.
Sampath

It would depend on the type of loan, compensating factors, what might have been incorrectly (fraudently) stated and the materiallity of the difference.

E.g. if it was a car loan at 50% loan to value, good credit and employment, and the person indicated a $1,000 deposit account balance (when it was $100) that might be immaterial.

If the person claimed to be working for 3 years at $50,000 a year and they were actually unemployed, that would appear to be intentional fraud that the lender could have significant losses. Not only should the loan be denied, but potentially reported as a fraudulent attempt to get credit to the regulators.