Whats the strangest thing an underwriter has requestedof you?

Private Lending & Conventional Mortgage Advice
10yFollow

Whats the strangest thing an underwriter has requestedof you?

Joseph Weisenbloom
Investor · Austin, TX · Member since 2013 · 443 posts · 174 votes

As real estate investors we fight the constant battle of getting approved for funding. Collecting paystubs and W2s seem pretty reasonable but then there are other requests that leave you scratching your head.

My recent favorite is "we need a witten explanation how you have bought so many houses with it signed and dated at the botrom"

Share your most rediculous underwriter requests.

0Reply
135 views

Most Popular Reply

Aaron HowellBusiness Member
Real Estate Agent · Crozet, VA · Member since 2014 · 436 posts · 223 votes
10y

I had to write a signed statement stating that I wasn't married to my mother (we own two properties together) and that she was my mom and not my wife.

Story House Real Estate527 Reviews
WebsiteView Page
3Reply
See this reply in the discussion

30 Replies

Jump to latestLatest
  • Boris GrinbergBusiness Member
    Lender · Paramus, NJ · Member since 2016 · 118 posts · 33 votes
    10y

    I had a checking account in United Kingdom and when I applied for a conventional mortgage at a major US bank in US, they looked at at that statement from Barclays and said how come it is not in dollars. I said because they use British Pounds in UK. They had to get a manager on a call with me as they couldn't understand how come they don't report all numbers in US Dollars and the statement is in English.

    0Reply
  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    10y
    Originally posted by @Boris Grinberg:

    I had a checking account in United Kingdom and when I applied for a conventional mortgage at a major US bank in US, they looked at at that statement from Barclays and said how come it is not in dollars. I said because they use British Pounds in UK. They had to get a manager on a call with me as they couldn't understand how come they don't report all numbers in US Dollars and the statement is in English.

     LOL. This is actually a loan officer fail, not an underwriter fail.

    A print screen of the results of a google search "144355 british pounds, in usd" gets this condition signed off, nothing required from borrower.

    1Reply
  • Bill Hamilton
    Denver, CO · Member since 2015 · 251 posts · 123 votes
    10y

    I used to be a wholesale AE and a loan officer @Chris Mason and your approach is the norm for most good LO's in my opinion. My first rule on a loan was never offer anything to an underwriter that they didn't ask for and answer their questions with the least amount of info that will satisfy the question. And yes, I wrote most of the LOX's that ended up with an underwriter. In my experience, the UW is looking for specific wording, which I can usually provide but the borrower hasn't a clue how to do that. But it is always the borrowers signature and them verifying what is being sent forward to the UW.

    And other than the car/insurance thing not a single UW request/stip is one I haven't had.

    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free