Mortgage Fraud ? 1003 Uniform Residential Loan Application

[Jack Halldin]

Some quick facts. This is my current residence, I have a VA loan, looking to refinance. Current servicer has been sending me notes that I can refinance at lower rate (3.875 now, current offer 2.25). Fantastic, huge savings, servicer indicates it is a streamlined refi, no income verification, which doesn't matter I'm employed and current on mortgage. Included in the documents provided by the lender is form 1003 Unifom Residential Loan Application, the form is to provide borowers assets and liabilities. There is no information on the form and I am being asked to sign it, (Doc sign it) lender is like, it is a streamlined refi no need for that information, but there is nothing in the form that says information isn't needed for streamlined refi. On the contrary there are stern fraud warnings repeated several times in the acknowledgment section. The lender got frustrated that i was asking to have this information included, he was like it isn't needed. I just don't feel comfortable. Is the lender off base here or is there some relief to providing this information for a streamlined VA refi? The form certainly doesn't reference anything like that. Any thoughts on this would be appreciated, would love to refi but wondering if I am in a 2006 rerun and this will come back to bite me somehow.

[Elise Marquette]

We did a VA IRRRL not too long ago on our home and that information isn't needed. Don't worry about not having it on there. In many cases, the more information you include on the 1003 is more things to the underwriter to questions and request docs on so if it isn't necessary, no reason to hold up the process. You're not committing mortgage fraud. It's all because the IRRRL is so streamlined.

All the government loans (VA, FHA, USDA) have their own streamline process that doesn't require income or credit. Your lender is correct