When we last left our hero, Moe Jazzei, he was battling the evil PHANTOM GUIDELINE. Unable to locate this 20% square footage appraisal requirement in any underwriting manual, moe was unsure about the fate of his otherwise perfect loan.
Just then the phone rang, it was the Nuntrust account rep. " I checked with our help desk, Moe, they can't find this guideline either." " That's because it doesn't exist!", Moe quipped. Its a PHANTOM GUIDELINE!!" "Wait there's more. I spoke with the underwriting supervisor and she waived the condition."
"Hal-a- frickin' lew yah!!" Moe shouted. Once again the PHANTOM GUIDELINE was defeated by COMMON SENSE!! Moe quickly contacted the closing department and the loan closed three days later.
There's still hope out there, Moe thought to himself. I just hope we never have to deal with that ugly monster again. Not likely, Moe. As long there are loans to be underwritten, so will exist, "THE PHANTOM GUIDELINE".
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