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Rejecting Applications
To reject applications, there are a few important considerations that must be followed to comply with lending regulations.

How to reject an application

If doing your own decisioning, you must inform Onbo of every rejected application. For each rejected application the following steps must be taken:

Step 1: Add the rejected application to Onbo

Create an application with the decision and reasons. If using a user's credit report in your decisioning, four reasons must be provided. If not using a user's credit report, then at least one reason must be provided. See Rejection Reasons below for a complete list of permissible rejection reasons.
{
"amount": 2500,
"decision": "REJECTED",
"reasons": [
"banking.error.income_too_low",
"user.identity.iddoc_failed"
]
}

Step 2: Send the Adverse Action Notice

The Adverse Action Notice must be presented to the user in your app and sent as an email. When you create the rejected application in Step 1, Onbo will return user-readable versions of the rejection reasons you provided. These must be included in the Adverse Action Notice
Onbo will provide your team with an Adverse Action Notice template

Step 3: Store the application data

All application data must be stored, including rejected applications. Onbo will store the User and Application data for you, so you just need to store the user_uuid and application_uuid.
Additionally, all inputs used in your decisioning model (for example income, credit report, Plaid bank data) must be stored.

Rejection reasons

Here's a list of permissible rejection reasons:
{
"banking.error.income_too_low": "Income does not meet requirement",
"banking.checking.balancetoolow": "Bank account balance is too low",
"banking.error.income_unpredictable": "Unable to predict regular pattern of income deposits",
"user.account.duplicate": "Duplicate account (previously applied for a loan with a different email address)",
"user.legal.sdb_check_failed": "State database lending restriction",
"banking.error.account_linking_error": "Unable to link to a supported banking institution",
"user.legal.mla_failed": "Under the Military Lending Act, loans to military personnel or their spouses and dependents cannot be made if the interest and expenses associated with the loan exceed an annual percentage rate (APR) of 36%. Due to these limits on military-related lending, we can't lend to members of the military or their spouses and dependents. Please feel free to contact us with any questions you may have about this notice!",
"user.identity.iddoc_failed": "Unable to verify identification documents",
"banking.error.no_checking_or_savings": "No data from supported financial institution. Unsupported financial institution is linked",
"banking.error.min_history": "Unable to pull enough bank history",
"loan.location.nolicense": "Unable to verify that your permanent residence is in a state",
"user.identity.address_invalid": "Unable to verify mailing address",
"banking.error.income_verify": "Unable to verify qualified income over a sustained period",
"loan.reject.stacking_behavior": "Recent deposits and withdrawals detected from other lenders",
"user.identity.ssn_invalid": "Unable to verify SSN number",
"banking.error.returned_checks_high": "Multiple Returned checks or Insufficient Fund Fees detected",
"user.account.fraudulent": "Bank account has been flagged as potential fraud risk",
"user.bankruptcy": "Outstanding balance from previous loan",
"loan.reject.pf_performance": "Previous loan with Stilt Inc. repaid late and/or with NSFs",
"loan.reject.processor_suspended": "Payment processor is unable to authenticate user",
"loan.reject.cash_flow": "Cash flow analysis - income funds are quickly depleted from bank account after income deposit",
}