Mortgage Blog

Read this if you do refi for two or more properties at the same time

October 23rd, 2009 10:24 AM by Eric Fang

The lenders are smart now. I had one loan which was scheduled to be closed on Tuesday(Oct 20th). On Oct 19th, the lender found that the borrower has a new loan, which I was not aware of. I asked the borrower and he said that he just finished a refinance for another property last Friday(Oct 16th). I was so supprised that the lender can find it. And we ended up modifying the appliction, the lender re-underwrite the file and this will be closed Monday. We are glad that we can still have the rate, but was indeed surprised how the lenders can find out a transaction just closed.
Posted in:General
Posted by Eric Fang on October 23rd, 2009 10:24 AM



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