Cashout refinance turndown

[Shantelle Evans]

Tried doing a cash-out refinance with Quicken to find another deal and this is the response I got: Unfortunately when I submit this through the electronic underwriting system I don't get the thumbs up. Your credit is great and your income is fine but due to the smaller loan amount the state won't let me approve it based on its current guidelines (not a Quicken rule). This is disappointing. I’m not sure what else to do. Any suggestions