Make sure you have your criteria in place before you start accepting applications.

Prior to about 15 years ago the PM used to call with a rundown of the applicant’s credit, income and any relevant facts and I would approve or deny.

heres whati got froma recent e-renter screen. propspective tenant got a notification that they failed and called me asking why as her credit score is apparently above 630Credit CheckYour applicant does not meet your minimum criteria at this time.6Total Trade Accounts$5,xxx.00Current Balance Reported on All Accounts2Total Negative Trade Accounts$1,xxx.00Past Due Reported on All Accounts0Negative Accounts in Collection$0.00Total Monthly Payments0Disregarded School/Medical LoansLatest Delinquent Payment (if reported)Top Risk Factors Affecting GradeSerious delinquency, and public record or collection filedTime since delinquency is too recent or unknownProportion of balances to credit limits on revolving accounts is too highNumber of accounts with delinquency

The explanation is fine, but the info is dated and non applicable for today. 

Two items that are applicable are:“What happens to liens on the property after it is sold at a Tax Sale?

All bids are to be based on the bidder’s own information and knowledge of the property, learned through his or her own efforts, and not on any representation or comments made by the Committee.The property is being sold free and clear of the lien(s) being foreclosed, and of all interests subsequent in right to that lien.The property is being sold subject to:All taxes due the municipality not foreclosed by this action,Water and sewer use charges not foreclosed by this action,All building and zoning regulations of the municipality which affect this property,All building lines, easements, restrictions and all other matters concerning this property which appear of record,The rights of any person in possession or occupancy of the property who have not been made parties to this foreclosure action,The right of the United States of America to redeem the property, if applicable under Federal law,Any other liens on this property which have not been foreclosed by this action.Further description of the property and further terms of the sale may be obtained from the Committee or from the court file.

Is there a formula for determining if an applicant is qualified financially?

I hope it helps:Items Needed To Submit Your Loan To ProcessingGuarantor Application: Complete one application for each Guarantor.

I love the platform but we have a large portfolio and customer base it’s turning away not being able to submit applications successfully,

Do I move forward with them filling out the application before I've even closed on the property, along with paying for the credit/criminal/background check and sending them the Estoppel Certificate?