Many years ago, or so it seems, in a far away place you used to be able to acquire a mortgage with little or no documentation required. Basically all that was required was a
PULSE
Now it hasn't been that way for quite awhile. I mean we've been "over documenting" loan files for a bit now but still I hear the
Whinin
I recently saw a post title that asked, " I'm not self employed, why must I provide tax returns?" or something like that. I didn't read the post so I'm not sure if that is what the content was actually about, but the answer is
the guy (gal) with the money says so
to simple for ya?
We used to call it
the golden rule
that being
the guy (gal) with the gold makes the rules
That's what we used to tell ya. Well guess what? It's back.
the GOLDEN RULE
You should be used to it by now so why all the whining? It doesn't help in any way. Instead of
Helpin
We get the buyers all fired up by agreeing with them, and empathizing with them, instead of stressing that the underwriting requirements today are not all that flexible, and that if possible they really just need to provide the documentation as soon as possible.
We also need to establish a new rule
the past doesn't matter
Whatever you did or didn't need to acquire a mortgage 3, 5, 7 years ago just doesn't mean anything today.
Just a quick point to address the obvious
Whinin doesn't help
I can't think of anyway that whining helps. Certainly the underwriter doesn't say okay that was some exceptional whinin, I'm going to waive the condition. They don't wave conditions very often any more, and please remember
(the past doesn't matter)
As a matter of fact, and I could be wrong here, but I don't think so, it appears the more the buyer shows a reluctance to provide the requested documents, the firmer the condition becomes. Did I mention
whinin doesn't help
So here's my conclusion. We need to accept that, it is what it is, and all work together towards a common goal. That would be
Closing
So it's time to
Stop Whinin, and Start Helpin!
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