mortgage delays: The Biggest Delay In Processing A Mortgage Today
- 02/11/17 04:19 PM
I had a conversation with one of my favorite ActiveRain members Lynn B. Friedman a couple of weeks ago, and Lynn suggested I write a blog about what is The Biggest Delay In Processing A Mortgage Today. I have written blogs about this in the past, but this is a topic which needs to be written about often. No one likes delays in anything, especially when it comes to a stressful process like getting approval for a mortgage. The biggest delay is one which everyone involved in the purchase or the selling of a home can assist in. The biggest delay … (14 comments)
mortgage delays: Borrowers Need To Avoid Short Cuts Which Can Delay Mortgage Approval
- 01/02/16 03:51 AM
Don't Let Short Cuts Delay Mortgage Approval. These days there mortgage applications are being scrutinized much more carefully than ever before. Therefore, it is very important to do everything properly, and in the order they need to be done. This is particularly important when it comes to documentation, Borrowers Need To Avoid Short Cuts Which Can Delay Mortgage Approval. It is very unwise for a Borrower to do anything which will cause a Loan to be looked at any closer than it already is. A fairly common example of a Borrower being tempted to take a short cut, is when there are … (31 comments)
mortgage delays: What Is The Single Biggest Reason For Mortgage Delays?
- 08/13/15 06:40 AM
Most people, even those in the Real Estate business would probably answer this question by saying Income and Credit issues are the the major reason for mortgage delays. However, they would be wrong. Income and Credit Issues are major reasons why Borrowers are not able to qualify for a Mortgage, but they are not the single biggest reason for mortgage delays once the loan is in process. So What Is The Single Biggest Reason For Mortgage Delays? The single biggest reason for mortgage delays are assets, and more specifically verification of assets. Despite the recent relaxation of asset verification by Fannie … (59 comments)
mortgage delays: New Delays For Lenders
- 06/23/15 08:29 AM
The IRS has added a new rejection code to help deter tax identity fraud and other identity related issues when ordering IRS transcripts. While this is a great idea to help reduce identity fraud, it has been causing New Delays For Lenders in obtaining tax transcript from the IRS. This new rejection code Lenders are receiving from the IRS reads as follows: "Due to limitations, the IRS is unable to process this request. Please ask your borrower to call the IRS Identity Theft Protection Unit at 1-800-908-4490 to clear the issue." The IRS message above is intentionally vague in stating the … (29 comments)
No matter how much time a Loan Originator spends telling Borrowers what to do and what not to do during the Loan Process, Borrowers do not seem to remember. So in an effort to help my Borrowers remember and Avoid Mortgage Loan Delays, I will be including the above flyer with all loan my loans. The above flyer contains a number of things the Borrower is NOT to do during the Mortgage Process, which will result in delaying their mortgage from being apporve. I have written blogs in the past about mortgage delays Borrowers cause during the Mortgage Process, and Absolute Do Not's … (17 comments)
I had a conversation with one of my favorite ActiveRain members Lynn B. Friedman a couple of weeks ago, and Lynn suggested I write a blog about what is The Biggest Delay In Processing A Mortgage Today. I have written blogs about this in the past, but this is a topic which needs to be written about often. No one likes delays in anything, especially when it comes to a stressful process like getting approval for a mortgage. 
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