Why is sending updated information so important? This is one of the key components to a loan modification. This is a redundant process but is the main aspect of making sure that you loan modification does not sit with the lender. If the lender goes to work on a file and the information is outdated then the processor/negotiator will not be able to work on your file. Now they are on to their next file and nothing has taken place on your file. To meet the lenders stipulations they must processes/modify a loan solely based on current information. You will not know that new information is outdated until the next time you call the lender. We are assuming that the borrower/company is calling weekly. If the lender is not called weekly then the time from when the last time the lender was called till the next time they are called is wasted time. In this period your file is sitting just waiting for the updated information. Some lenders will call the borrower(s) and tell them what information is needed, but in many cases they will not. To solve this problem we suggest that every time the borrower(s) receive a new pay stub or bank statement they should send this information to the lender. This will insure that every time a negotiator/processor works on your file they will always be able to process the new information. This will easily expedite the lost time that could be wasted.