It was overturned on Monday. It was the co-borrowers employment contract that was an issue. They did the math wrong, an error on their part that they did admit to. Sadly, the listing broker wouldn't extend contract and once he caught wind that it had been denied, relisted. He had another verbal contact, more money, higher down, clearly a more reputable lender and the seller let our contract lapse on the 1st. Our lender knew the time crunch and still couldn't get any commitment. 48 days. We have resubmitted with another lender with an in house underwriter and has given us a thumbs up.
What did I learn? The loans that some banks offer, while look good on paper, aren't any good if you can't get them done!