loan application: Buyer Beware: The Underwriter May Be Googling You!
- 08/18/11 10:22 AM
Buyer Beware: The Underwriter May Be Googling You! I just attended a refresher training on mortgage fraud. Mortgage fraud is very high here in California and, as a Sacramento Mortgage Broker, I have to keep up on the latest ploys. I have had three fraud attempts cross my desk this year. Underwriters are keeping up on the ploys, too. When your loan package is submitted to a lender, assume that the Underwriter is going to use Google to confirm information on your application. For example, Does your employer really exist? Does your employer’s address match your application? Does your employer have a physical … (4 comments)
loan application: Do you really need all this personal information for my mortgage?
- 10/16/09 08:54 AM
As a Roseville mortgage broker, I get this question a lot from home buyers, especially ones who have applied for mortgages in the past. I coach buyers (new and experienced) that the current lending environment and process is much different today. Lenders/investors are requiring much more information from borrowers than in times past. This is very frustrating to many buyers. It doesn't make sense, especially to the ones that tell me they pay all their bills on time.
Pay stubs, two months of bank statements with all of the pages (even if they’re blank?), Federal taxes, divorce papers, copies of Driver’s … (6 comments)
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