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Underwriting questions

When a borrower applies for a new loan and does not disclose other properties he owns, what do underwriters do to see if you have other properties in the U.S.? I know that failing to disclose this is a federal offense and I would like to advise my son who is taking out a loan to disclose all to his lender. by alexreed879 from Diamond Springs, Colorado. 11 days ago Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,747 contributions

We run something known as fraud report. They are generally pretty good at detecting all sorts of stuff. Probably the most common thing I see pop up is undisclosed properties, and undisclosed foreclosures/bankruptcies.

11 days ago
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Dave Skow (daveskow)
#16 ranked lender in Washington - 372 contributions

underwriters will run a fraud report and many times other property addresses will appear on credit report as well as tax returns ...underwriters will ask for explanations and validation of any addresses that are concerning .....any property owned or partially owned should be disclosed as they accompnaying debt / taxes / ins will need to be factored into the qualifying ratios

10 days ago
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