Posted on 10/12/2022 4:20:41 PM PDT by Salgak
So, in the process of re-doing our VA Mortgage, we need some repairs done as well as doing some consolidation.
But got a really odd request from the Processor. They looked at where my office is, relative to my house. . and asked me to write a statement 'justifying my lengthy commute'.
Is this some sort of ESG thing? Are they afraid of Al Gore or Greta Thunberg saying 'No mortgage for you!".
We were going to close late next week, so wondering where this last-minute request came from...
Justify BiXiden’s w/e commute to his Del. basement first.
How is that their business? They need to need to make sure you can pay your mortgage nothing else.
I have never been asked how far my commute was for any mortgage.
“I have never been asked how far my commute was for any mortgage.”
A lot has changed in America over the last 2-5 years.
Which mortgage company is this?
Referring to my long commute, it is the job where I earn enough money to afford to pay the mortgage on the house. Of course I could find a job closer to my house, but the pay would not be sufficient to afford the house and mortgage. This would make neither of us happy. Of course you should be happy that I am willing to put in the effort to earn enough to afford this house.
Just tell them you’re transgender. They’ll let you commute all over the place.
Perhaps, as part of making sure he can pay his mortgage, they became concerned that the long commuting distance may cause him to quit the job?
It’s a broker, they will sell the mortgage to someone else as soon the 3-business-day ‘cooling-off’ period has passed...
Tell them you are a pimp and you rent out child sex slaves and the only people with the money and taste for your services are mortgage bankers, so I drive to their neighborhoods and homes to sell my products
They are concerned this home is not your residence.
I last went through a full mortgage process in 2009 & was amazed at the intrusive nature of the questions then on funding sources. Not surprised that the situation has not improved.
The home I have been living in for 15 years? Unlikely
They’re going to circle-back later and offer you a loan on an EV because you’re using so much gas in your commute.
Find another mortgage company.
Sounds like ESG and the new “social credit system” that is about to be implemented.
None of their business where you work or how far you commute!
What if you travel and have to drive 250 miles round trip for business meetings?
Does your job allow you to work remote? If so, that can be your explanation.
We had to do that recently for a VA client whose office was 3+ hours away, and have had the request several times (corporate office versus local office, etc.), so it’s not that unusual.
Making sure they are not mortgaging an investment property, a secondary home, or a vacation home. It’s underwriting rules.
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