They approved the loan. We signed the docs on Tuesday thinking everything is done. Suddenly this morning I got a call from the Broker.
She said before funding, the lender wants to know why my wife’s income dropped from 2008 to 2009. I explained that my wife had less overtime hours in 2009. And then the lender also wants to know what is my 2008 schedule C income of my 2008 tax form? I explained that it was a loss in mutual fund investment.
Don’t they do this before approving the loan and doc signing?
Underwriting is a process Jimmy and sometimes not every nook and cranny are thoroughly reviewed. Prior to funding there is often a review as well. Finally, most loans are originated and then sold. There may be other requirements from the investors or institution that the loan is being sold to that may not have been satisfied at the initial underwriting stage.
Underwriting is a process Jimmy and sometimes not every nook and cranny are thoroughly reviewed. Prior to funding there is often a review as well. Finally, most loans are originated and then sold. There may be other requirements from the investors or institution that the loan is being sold to that may not have been satisfied at the initial underwriting stage.
Underwriting is a process Jimmy and sometimes not every nook and cranny are thoroughly reviewed. Prior to funding there is often a review as well. Finally, most loans are originated and then sold. There may be other requirements from the investors or institution that the loan is being sold to that may not have been satisfied at the initial underwriting stage.
Underwriting is a process Jimmy and sometimes not every nook and cranny are thoroughly reviewed. Prior to funding there is often a review as well. Finally, most loans are originated and then sold. There may be other requirements from the investors or institution that the loan is being sold to that may not have been satisfied at the initial underwriting stage.
Underwriting is a process Jimmy and sometimes not every nook and cranny are thoroughly reviewed. Prior to funding there is often a review as well. Finally, most loans are originated and then sold. There may be other requirements from the investors or institution that the loan is being sold to that may not have been satisfied at the initial underwriting stage.
Our lender already sold ours, so our first payment is going to the company they sold it to. And they asked us to sign some papers after our loan was funded. I think it’s just a CYA dotting i’s and crossing t’s.
Our lender already sold ours, so our first payment is going to the company they sold it to. And they asked us to sign some papers after our loan was funded. I think it’s just a CYA dotting i’s and crossing t’s.
Our lender already sold ours, so our first payment is going to the company they sold it to. And they asked us to sign some papers after our loan was funded. I think it’s just a CYA dotting i’s and crossing t’s.
Our lender already sold ours, so our first payment is going to the company they sold it to. And they asked us to sign some papers after our loan was funded. I think it’s just a CYA dotting i’s and crossing t’s.
Our lender already sold ours, so our first payment is going to the company they sold it to. And they asked us to sign some papers after our loan was funded. I think it’s just a CYA dotting i’s and crossing t’s.
I am a little axious because we have to move out of our condo by Monday. Some body is moving in the condo on Wednesday and my landlord needs a day for cleaning. If this gets delayed any further we will be on the street. It got delayed two weeks already.
I am a little axious because we have to move out of our condo by Monday. Some body is moving in the condo on Wednesday and my landlord needs a day for cleaning. If this gets delayed any further we will be on the street. It got delayed two weeks already.
I am a little axious because we have to move out of our condo by Monday. Some body is moving in the condo on Wednesday and my landlord needs a day for cleaning. If this gets delayed any further we will be on the street. It got delayed two weeks already.
I am a little axious because we have to move out of our condo by Monday. Some body is moving in the condo on Wednesday and my landlord needs a day for cleaning. If this gets delayed any further we will be on the street. It got delayed two weeks already.
