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04-02-2019, 02:31 PM #1Senior Member
Reputation points: 27404
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
Anyone have an offer lower due to sic code?
i had an offer for 69k but was dropped cuz UW put the wrong sic code when they sent the portal offer. merchant still eligible for 69k based on cash flow.. but offer dropped 10k due to said issue.
i never knew sic dictate offers, anyone have a website that shows what each sic offer the max funding??
Our approvals never had this scenario...
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04-02-2019, 04:07 PM #2Veteran
Reputation points: 135672
- Join Date
- Sep 2012
- Location
- New York City
- Posts
- 3,187
happens all the time. UWer may have looked at bank statements for a gas station, or insurance company...then realized later the SIC & it HAS TO BE LOWERED, because of pass thru vs real revenue
Maybe something came back in the final review and background that lowered offer? Several funds have caps on deals based on credit too
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