Posted on 10/12/2022 4:20:41 PM PDT by Salgak
“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”
I love this one and vote for this as the response to the loaner.
“Has xoe been to Camp David yet?”
AFAIK, at least once.
Bow Down!
Obey!
Snitch!
Maybe you’d like to join the J6 captives for your insolence...
Legit request.
They simply want to verify it’s a loan for a primary residence and not a investment property or 2nd home .
As a loan officer I pushed back on underwriting when this was asked for, but get why it was asked .
VA requires that you live in the house and not buy a house you intend to rent out, let your kid live in, etc. So a big distance means they document why and they always have.
But there are plenty of reasons. I knew a refinery expert who lived in Colorado. He worked in Houston. The company bought him a ticket to Houston every Sunday night and a return home Thursday at noon.
Another was an airline pilot, home base was Phoenix, but lived in Albuquerque where his wife was an attorney.
They are just establishing you are not buying a house for your college kid to live in while attending school out of state or something like that.
It’s been procedure for years.
They probably know Chomo Joe and the democrats are going to jack up gasoline prices to 20 a gallon and no one will be able to afford to commute and pay their mortgage.
My son had to write a letter explaining his long commute to work to his lender. He had to commute 107 miles each way. He said to be closer to family. But he just got another job closer to home. He was tired of the 2 hour commute. Good luck.
This explains what they are asking for.
Just get them what they need to close your loan.
VA can audit any closed loan , and if they didn’t ask you this when they should have, the lender gets in trouble.
The file must be documented to VA standards, I’m sure the underwriter knows you are living there, but they have to document your file properly
We in the industry don’t make the rules or like them all the time.
But we have to follow them.
Maybe they’re scared you will get sick of the commute and quit your job and be unable to pay the mortgage?
figures... tell them that’s where the work is 8^)
It’s none of their business period and you should tell them that. I’d mention you’ll be discussing this with a lawyer.
“F___ You, That’s My Justification!”
Years ago, I had to travel with a co-worker to a conference. We turned in the exact same expense report with the one exception - I had the rental car.
The day my co-worker got his payment, my expense report was kicked back asking for a detail explanation of every item. I wrote on the back of the letter: “Someone in corporate is probably getting a kickback for delaying payment of expense reports so that the company can enjoy an interest free loan.”
A Vice President from finance called my boss wanting me fired. After my boss smoothed it over by reminding the VP I had to suffer through a move for which I wasn’t reimbursed for 8 months before I went on this required trip.
The end result was the office assistant signed off all of my expense reports after that. What a waste of time.
I’m amazed. I actually agree with you comment.
The commute eventually wore me down. My employer let me work in a field operation eventually so I didn't commute daily. Office trips were maybe once a month and then they let me stay overnight at a hotel.
Heavy commutes eventually take their toll on you. It becomes like a second job at an expense instead of income.
last mortage refi i did decades ago, they kept coming back with more and more ridiculous trivial requests for stupid, irrelevant things ... finally, i told them that i had had enough, that i would provide no more information, and if they didn’t like that, i would simply walk and go elsewhere for my refi ... well, they had put in so much effort and time and energy up to that point that that was the last thing they wanted, and so they said, no problem, refi is approved ...
you might just tell them that your commute is your business and not theirs ...
Possibly many of them. As I said in a follow up, mortgages are receiving much more scrutiny than a couple years ago. Bad economy plus high inflation plus housing price bubble equals possible mortgage industry disaster.
“i” before “e”
Except after “c”
Or when sounded as “A”
as in “Neighbor” and “Weigh”
Except “weird”, which is spelled weird.
“ They are concerned this home is not your residence.”
********************************************
Yep. They can’t finance investment properties.
Debunked by science
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.