Notice from the North Pole - Santa is not happy

Mortgage and Lending with Home Loans by Sean Young - New American Funding NMLS: 191647

Santa is not happy


We have just received notice from the North Pole that all those in the lending industry will not be receiving ANY presents this year. 

Apparently Santa is upset! He has been working on a transaction that was all set to close, but at the last minute the lender has added conditions. As he just stated to us, he is up to his red cherry nose with conditions!
1.      The Elves have refused to return phone calls to verify employment as they feel that this is just too busy of a time to call anyone.

2.      Santa has informed the lender that he won’t be able to sign his loan documents before leaving on an extended vacation on the evening of the  24th.

3.      The lender is asking for additional proof that Santa has not taken out any new loans on his sleigh.

4.      The lender is asking for additional proof that Mrs. Claus’ cookie business income will continue for a minimum of three years.

5.      The Social Security Verification Form has come back stating that Santa does not exist.

6.      Due to lack of comps in the area and the rural nature of the property, the lender is requiring a second appraisal and a desk review.

7.      The copy of Santa’s Photo ID cannot be verified because there are too many imposters around to prove it is him.

8.      Santa has refused to sign the AKA statement as it is four pages long listing such other names as Kris Kringle, Father Christmas, Old Saint Nick, etc.

9.      Apparently the lender is trying to call Santa’s work “Seasonal” and they want verification of his continued employment in order to verify his income

10.    The lender is requiring that we deduct the expense for reindeer food and maintenance from his income because he claimed them as 2106 expenses for costs of doing business. This increased his DTI over the max allowable per the guidelines.  Santa’s only options are to pay off debt and close the accounts or find a non-occupying co-borrower in order to move forward.


Ho! Ho! Ho! and Merry Christmas to you and yours!





Posted by

Sean Young
Mortgage Loan Officer

Cell: 303.521.7169

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NMLS: 191647  / LMB: 100013240

MyLenderSean.comFirstCal Colorado Mortgage

Comments (3)

Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Sean, Sounds like Santa has some work to do. Thanks for the laugh today.

Dec 24, 2013 03:12 AM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional


Very clever and a little too close to the truth! I hope that Santa makes it through all of this!

Dec 24, 2013 05:51 AM
Sean Young
Home Loans by Sean Young - New American Funding - Highlands Ranch, CO
Colorado loan officer

My pleasure Pamela and Richard I agree. 

Dec 24, 2013 07:37 AM