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Newly released Home Mortgage Disclosure Act data for 2015 showed that the first place for denial of first-lien purchase mortgage loan applications went to the applicant’s debt-to-income ratio at 23.4%. Right behind that was the applicant’s credit history at 20.4%. What surprised me was that coming in a distant third at 13.7% was the value or type of collateral not being sufficient. Most of that 13.7% would presumably be because the appraisal could not support the buyer’s and seller's agreed-upon sales price of the home. 

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