What in the world are you thinking? I have submitted 5 yes 5 files to you in the last 2 weeks and every one you question my income figure.....Now I want to say THANK YOU for raising the income figure I submitted on all 5 files, but is this really necessary? I mean you dropped the Loan To Value from any where to 1 to maybe 6% and all 5 files where Automated Underwritten and the findings state.... document the income... ok so if my borrower makes a little overtime and that makes things better WHY ARE YOU INSISTING THAT WE RE RUN THE AUTOMATED SYSTEM WITH HIGHER INCOME AND THEN PRINT AND FED EX THE FINDINGS.. can you say we already kill enough trees and waste enough money.
Now I understand we are all under the scope. Hell the old prostate jokes are not even close to funny any more about the Government and all others being up our collective arse, but come on. The file is APPROVED ELIGIBLE WITH THE BASE INCOME. Do we really care that he makes 2 grand a year in over time or 30 grand in commission on top of his salary???????
Look I know your job is thankless, hell I won't do it, nor would most of those that even think about this profession. You are the last quality control check in the process. But when I just use base pay and they qualify, why do we ask for more.... these are FULL DOCUMENTATION LOANS.... not stated....
Respectfully submitted
Your favorite mortgage guy
Scuba Joe
Coldwell Banker Tenafly - Hackensack, NJ
I don't understand either, but legally I thought that banks don't have to ask for more if they already reached the correct LTV for the loan.
Mar 31, 2008 01:16 PM
The Machree Group, LLC - Woodstock, NY
Ulster County Real Estate
Hi Joe...I hope the files I am about to submit don't hit that snafu...ugh. Keep the faith!
Mar 31, 2008 01:26 PM
International Financing Solutions - Fort Myers, FL
International Financing Solutions
The amount of stupid stuff the underwriters are asking for today is beyond rediculous. Your case is a prime example.
Sean Allen
Mar 31, 2008 01:32 PM
RE/MAX Downtown - Orlando, FL
Your Orlando Real Estate Professional
Scuba Joe ~ in Colorado? Thats something new!
But you are correct. I used to process my own files, but over the past 6 to 7 months I found it was much easier to have a processor deal with the crazy stuff the lenders are asking for now.
Long gone are the days where they just lose a document, (that was included in the original submission, that I resend the exact same email with everything "again) but it is getting crazy.
Now disclosure about the disclosure.. Whats next?
Mar 31, 2008 01:40 PM
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