Final answer:
If a customer with bad credit asks to complete a mortgage application, there are several steps you can take. First, explain to the customer that having bad credit may affect their ability to secure a mortgage. Provide them with alternative options such as working with a specialized lender or improving their credit score.
Step-by-step explanation:
If a customer with bad credit asks to complete a mortgage application, there are several steps you can take. First, you should explain to the customer that having bad credit may affect their ability to secure a mortgage. You can then provide them with alternative options such as working with a specialized lender who caters to individuals with bad credit or improving their credit score to increase their chances.
Another option is to encourage the customer to provide additional financial documentation that demonstrates their ability to repay the loan, such as proof of steady income or assets. Additionally, you can emphasize the importance of a larger down payment to compensate for their poor credit history.
Overall, the key is to be honest with the customer about their situation and guide them towards the best possible solution based on their specific circumstances and financial goals.