For this post, the long story short is that no cats were on the application but lo and behold, there are 4 cats in the house during my first inspection.

How many applicants did you interview?

And, yes, there are years of data points to validate that just within my office, tens of thousands of dollars of wasted appraisal and inspection fees for deals (mostly not mine, thankfully) that had 0.00% of going anywhere but the "Loan Application Declined" bin. 

And IMHO, the prices are dropping big time (on avg. 10K/month...houses that were above 300K a year ago are not selling at 250K now) and the available rentals saturation is worse than I seen during summer season (with rents dropping from 1$-1.08/sqft to 0.8$/sqft and very little contacts and applications...just go in Zillow and look how many rentals are on the market now in Kyle, New Braunfels or Converse). 

It may or may not show on a credit report, depends on the servicing and you should have the loan serviced.Failure to include the debt on a future loan application is mortgage fraud, wanna go to jail?

That loan is being paid off by someone who checks the box on the conventional loan application that they will be occupying the property.

The market in Racine is much different than Kenosha and we have been having a hard time getting quality tenant applicants.

Proc. 2002-69, 2002-2 C.B. 831, for special rules applicable to husband and wife state law entities in community property states.

They don't ask for any documents just do a credit check and you fill out their application.

Is the portal a downloaded application or is it a web portal?