Silly Underwriting Requirements
I am in the process of doing a cash out refi, and got notified by the lender that I will need to provide a hand-written letter (not typed, in my own handwriting) listing the properties I currently own and stating that I am not in the process of acquiring additional properties at the time of writing.
It's not a big deal, but seems a little ridiculous to me. As long as my signature is on the letter, what difference does it make if it is typed or hand-written. Also I'm not sure why they require me to not be acquiring any more properties if I can afford it financially.
At least this is better than the underwriting done for NINJA loans. Anyone have similar experiences?