Fred Griffin

Why do Underwriters feel the need to play GOD?

Your Closing is coming down to the wire.  All the paperwork has been submitted; "Loan Approval" has been granted.  Then the Underwriter calls; they demand More Information.  Is this a legitimate request, or are they just trying to make life difficult?

 

Ellie McIntire on ActiveRain

 

 

 

 

Ellie McIntire blogs that, "some Underwriters seemed to have developed a God Complex".

 

 

 

 

 

 

 

     What are your thoughts?  Do you feel that Underwriters are sometimes unreasonable?  Are they intentionally trying to make the Loan Closing difficult?

 

 

         Or, does the Underwriter have a legitimate reason to require more information, given the previous failure of the Lending Industry to properly screen Borrowers?

 

 

     Read Ellie's Blog, and be sure to read the many comments and opinions that follow.

_____________________________________

_____________________________________

 



What is becoming painfully obvious is that some Underwriters seemed to have developed a God Complex. They are more than aware that the fate of a loan lies in their hands and they, in my lowly opinion, are asking for more insignificant information just to make life difficult.

For example: (This is my listing- we are now almost three weeks beyond the original settlement date)

The first requirement that has made the buyers agent head spin is the insistence on having the word PERMANENT added to the buyers medical condition. A mere "this patient will never be able to work again" was not sufficient. The buyer, who us obviously disabled was forced to run around after his Doctor to have a statement provided that his condition was indeed PERMANENT!!!!!

Task # 1 completed.......can we head to settlement?

Slow down Mr Buyer......there are a few more coming at you.

The Underwriter now needs his Divorce decree.......despite being married to his 2nd wife for 18 years......from his 1984 Divorce!

The third and last (hopefully)requirement is PROOF that the children from that 1st marriage no longer obligate him to pay child support.

DOES SHE HAVE ANY MATH SKILLS?
He divorced their Mother in 1984!

The two children in question now have children of their own!  

The poor Buyer has had to jump through unnecessary and totally illogical hoops to appease. She wanted their birth certificates as proof. None of these requirements make any sense.

HOPEFULLY we can settle this home in the next few days unless the underwriter is going to require a full blown DNA test!

Ellie McIntire Real Estate

Join me on FacebookFollow me on Twitter

Visit my Outside Blog

Send me an Email

 

 

 

Check out my videosRead my reviews on Zillow

Check out my listings and give me a call!

Let's get LinkedIn

 

 

Frederick Griffin, Licensed Florida Real Estate Broker    850-545-1901

 

Tallahassee Florida Metropolitan Area

and the Coastal communities of

Shell Point Beach, Live Oak Island, Wakulla Beach, Saint Marks, Panacea

 

Exclusive Representation for Buyers and Sellers 

Call Fred  850-545-1901

 

 Realtor logo       HUD Logo Fair Housing

 

 

Frederick Griffin, Licensed Florida Real Estate Broker    850-545-1901

 

Disclaimer:  Nothing in the above blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comment balloon 3 commentsFred Griffin • November 03 2011 11:08PM
Why do Underwriters feel the need to play GOD?
share
Your Closing is coming down to the wire. All the paperwork has been submitted; "Loan Approval " has been granted. Then the Underwriter calls; they demand More Information Is this a legitimate request, or are they just trying to make… more
Happy Birthday, Chevrolet! The Great Auto Maker is 100 Years Old Today
share
Chevrolet was founded on November 3, 1911 by race car driver Louis Chevrolet and General Motors founder William C. Durant Chevrolet has produced some of the most Iconic American Automobiles including the Corvette the Camaro the Suburban… more
10 Fannie Mae and Freddie Mac Executives will share $13 Million…
share
The Top Executives at Fannie Mae and Freddie Mac will share $13 Million Dollars in Bonuses 5 Freddie Execs and 5 Fannie Execs will average $1 Million each Congressmen from Senator Harry Reid to Conservative Republicans are calling on Obama to… more
American Economy: Michael Moore Blasts "The Rich", then…
share
The American Economy, including the Real Estate Market, is in bad shape. Whose fault is it? Michael Moore chastises "The 400" and the "1 Percent " at Occupy Portland He suggests that they should each "give back" $1… more
Inspecting Older Electrical Systems…
share
Licensed Home Inspector Michael Thornton discusses Older Electrical Systems Michael wants to ensure that, "… the electrical system meets acceptable industry standards " In this blog, he shows a picture of an improperly wired circuit… more
Advice for Sellers: The One Question You Must Ask Your REALTOR®
share
Sellers - what is the One Question that you should Ask your Realtor Peggy Chirico advocates "Pricing your House to Sell" She states clearly and emphatically the reasons for pricing it right at the time you put your house on the… more
What Buyers Do Wrong They Talk Too Much
share
Regarding Home Buyers Carla Muss-Jacobs says, "There is one mistake that can cost them money, or ultimately, weaken their negotiation position… Buyers Talk Too Much! ". Carla gives a classic example of a talkative Buyer at… more
Lighten Up-------Nobody Takes Facebook That Seriously Anymore, Do…
share
Facebook Many people cannot imagine "Life Without Facebook ". But those embarrassing personal pictures comments, and opinions - do they affect your life, and your business? Deborah Stone advises everyone to "Lighten Up ". … more
Why Sellers Should Remove Wallpaper
share
Wallpaper It has been around since the Renaissance - examples dating back to 1500 exist. But 500 years later, has Wallpaper become passé? Tammie White Blogs about an Expired Listing that has Wallpaper that, "… more
Yeah, Buddy! 200, 000 Points… Yee-Ha, Whoop! Whoop! Whoop!
share
Y'all excuse me if I get a little bit Southern-excited tonight, but the ticker shows that I have just passed 200 Large on ActiveRain I extend a cyber-handshake of gratitude to all of you on ActiveRain Thank… more