November 18th, 2011 3:35 PM by Eric Fang
This is for your entertainment.
I submitted the loan to one lender. But I was amused by his underwriting skills. I don't know why the lenderhired that person.
I had the borrower originated the loan about 4 months ago.His new loan was not on the credit report. So this underwriter asked me to provide a documents to prove theborrower with the lender A.
I provided the Note, the Deed of Trust, the final closingstatement from the last refi and the Verification of mortgage and the last mortgage statement(I was so patient,is not it?). Normally the Verification of Mortgage isgood enough for the proof.
Then this underwriter(We call him S, you know what I meant),tried to call the lender again to verify himself. And thelender asked him to provide a PIN to access. And I askedmy borrower to provide one for this S underwriter.
And S said it does not work. He did not even know that he could try spouse's SSN too. And I recorded the auto system and gave him the instructions how to accessthe lender's automatic system.
WOW. How can they review all those loans? Most of my borrowers have FICO over 740, all with good incomeand low DTI(FICO 807; DTI 22% for this case). And "S" still tried to "screw up" this loan. Now I understandwhy the lenders had so many bad loans a few years ago.