Which applications should be approved and why

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Reference no: EM132761072

Problem 1: The following applications are for 30-year mortgages and are for primary residential houses. Which applications should be approved and Why?

Application A
Abby Davis

Loan Amount: $ 210,000
FICO Score: 730
Late Payments In the last year: Zero
Defaulted Loans in the las five years: Zero

Application B
Brandon Chetkey

Loan Amount: $ 300,000
FICO Score: 650
Late Payments In the last year: Zero
Defaulted Loans in the las five years: Zero

Application C
Christine McDougal

Loan Amount: $ 250,000
FICO Score: 540
Late Payments In the last year: One
Defaulted Loans in the las five years: Zero

Application D
Daniel Blankenship

Loan Amount: $ 200,000
FICO Score: 680
Late Payments In the last year: One
Defaulted Loans in the las five years: Zero

Application E
Eric Morgan

Loan Amount: $ 150,000
FICO Score: 490
Late Payments In the last year: Two
Defaulted Loans in the las five years: Zero

Reference no: EM132761072

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