The loan process is very difficult to understand and explain. I learned the business the hard way, I was self taught and the process was very tough, considering that the loan business is 100% commission and if you do not close a loan you do not get paid. Many loans pass the test and close with no problems , but there are thousands of loans that don't close each year simply because the process was not explained. The value of an appraisal is very high on the reason why some loans don't close. This is going to be a very concise definition of why these loans that I have listed below did not close.