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Teresa Timmons replied on October 20, 2009 19:22 to the problem "Pre approved for mortgage loan, then absurdly denied..." in USAA:
I had that problem with Bank of America Mortgage. I was preapproved for a 30-year fixed rate fha morgage at 5.25% interest back in August of this year. I signed papers & received a packet in the mail from bank of america only to be disappointed a day after receiving the packet that the underwriters found something that made them deny my loan. They said it was because of a late payment on a department store card that was on my report from January. I was confused because if that was the case then I shouldn't have been pre-approved.
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