Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Wierd Mortgage Request: 'Justify my commute'...
Self | 10/12/22 | Self

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...


TOPICS: Business/Economy; Chit/Chat; Military/Veterans; Miscellaneous
KEYWORDS: commute; mortgage; underwriting
Navigation: use the links below to view more comments.
first previous 1-2021-4041-60 next last
To: Salgak

It’s actually pretty common, and due diligence on the part of the underwriter. A very long commute can cause some level of risk or possibly indicate you intend to switch jobs.

https://www.credit.com/blog/the-surprising-way-your-job-can-impact-your-mortgage-121451/

Curious how long your commute is that triggered that question? Commutes of an hour are common around me. Much beyond that is pretty rare.


21 posted on 10/12/2022 4:39:16 PM PDT by ETCM (“There is no security, no safety, in the appeasement of evil.” — Ronald Reagan)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Salgak

Maybe the rates have increased since you ‘locked in’

This is their way out?

We tried to refinance @ 2.25% when, unexpectedly my worthless brother must have been paroled/released from prison — had eight (unsuccessful) loan applications one day. Reason enough for the lending institution to cancel the transaction...

__________________________________________________________________________________

Slide...

I now have a credit shield...The Sheriff Department dosen’t come by anymore (over two decades) to arrest me because my idiot worthless brother ‘pretends to live ‘here.’ It took a few times to convince them.

Thats the good thing.

I also have a LOOOOOOOONG history in the gaming industry and have a perfect record - I’ve actually been fingerprinted by multiple states, institution & the FBI actually over 50 times!

Pity banks don’t realize my excellence.

Best to you!


22 posted on 10/12/2022 4:39:37 PM PDT by BBB333 (The Power Of Trump Compels You!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ETCM

About an hour each way. Previous jobs have been 90+ minutes each way...


23 posted on 10/12/2022 4:40:31 PM PDT by Salgak (You're in Strange Hands with Tom Stranger. . . .)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Salgak

This is nuts! If you’re closing next week, surely they wouldn’t stop it for that. Just tell them you forgot it if they say anything.


24 posted on 10/12/2022 4:40:34 PM PDT by Rusty0604 (" When you can't make them see the light, make them feel the heat." -Ronald Reagan)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks; Salgak

I’m quite serious: Ask the mortgage company if they are discriminating against you because you are transgender. Ask them how they know,


25 posted on 10/12/2022 4:40:45 PM PDT by jjotto ( Blessed are You LORD, who crushes enemies and subdues the wicked.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: MayflowerMadam

“A lot has changed in America over the last 2-5 years.”

That is an understatement.


26 posted on 10/12/2022 4:43:05 PM PDT by caver
[ Post Reply | Private Reply | To 5 | View Replies]

To: Paladin2

Has xoe been to Camp David yet?


27 posted on 10/12/2022 4:45:03 PM PDT by Clutch Martin ("The trouble ain't that there is too many fools, but that the lightning ain't distributed right." )
[ Post Reply | Private Reply | To 2 | View Replies]

To: Salgak

They may be concerned that the rising cost of gas will mean a big change in your available income.


28 posted on 10/12/2022 4:45:15 PM PDT by lastchance (Credo.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Salgak

Tell them you do your best thinking while driving...


29 posted on 10/12/2022 4:47:24 PM PDT by glorgau
[ Post Reply | Private Reply | To 1 | View Replies]

To: Salgak

An hour is nothing out of the norm. Pretty strange. I’ve heard getting a loan/refi is difficult right now regardless of credit, with increasing interest rates and the possibility of a bubble about to burst. Maybe they are looking for a reason to deny.


30 posted on 10/12/2022 4:47:27 PM PDT by ETCM (“There is no security, no safety, in the appeasement of evil.” — Ronald Reagan)
[ Post Reply | Private Reply | To 23 | View Replies]

To: Salgak
Dear mortgage processor, please justify your request for me to justify my commute.

-J

31 posted on 10/12/2022 4:47:36 PM PDT by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

Or you can tell them your sentence was commuted for good behavior.


32 posted on 10/12/2022 4:49:09 PM PDT by glorgau
[ Post Reply | Private Reply | To 8 | View Replies]

To: Salgak

can you ask why???


33 posted on 10/12/2022 4:49:14 PM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blackdog

Is public transportation available for you to get to work? One wouldn’t need to use it everyday, right?

What’s the next question? To submit your weekly mileage of your vehicles or something stupid like that?


34 posted on 10/12/2022 4:49:49 PM PDT by Clutch Martin ("The trouble ain't that there is too many fools, but that the lightning ain't distributed right." )
[ Post Reply | Private Reply | To 20 | View Replies]

To: Salgak

A family member used a broker in the beginning of the year. No question like that needed to be answered.


35 posted on 10/12/2022 4:51:37 PM PDT by CaptainK ("If life's really hard, at least its short")
[ Post Reply | Private Reply | To 10 | View Replies]

To: Clutch Martin
Pay cash for the home and you have your privacy. Borrow money from government regulated mortgage bankers and you are under their control.

Your call?

36 posted on 10/12/2022 4:53:00 PM PDT by blackdog (The head, hands, and heart, serve even further than the purse. )
[ Post Reply | Private Reply | To 34 | View Replies]

To: ETCM
A very long commute can cause some level of risk or possibly indicate you intend to switch jobs.

In today's economic climate, the risk of being laid off is probably greater. Will the lenders stop approving all mortgages now because of the uncertainty of losing one's job involuntarily?

-PJ

37 posted on 10/12/2022 4:53:07 PM PDT by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
[ Post Reply | Private Reply | To 21 | View Replies]

To: Chode

Undefined ‘guidelines’. When I asked to see those guidelines. ..they blamed underwriting


38 posted on 10/12/2022 4:57:23 PM PDT by Salgak (You're in Strange Hands with Tom Stranger. . . .)
[ Post Reply | Private Reply | To 33 | View Replies]

To: Raycpa

“They are concerned this home is not your residence.”

This will go unnoticed among all the stupid comments.


39 posted on 10/12/2022 4:57:24 PM PDT by TexasGator (!!!)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Salgak

Here you go:

“So we can pay your ripoff mortgage, and eat. Now piss off.”


40 posted on 10/12/2022 4:57:45 PM PDT by old-ager
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-60 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson