Fred Griffin: Why Is The Loan Officer Asking Me These Questions?

Why Is The Loan Officer Asking Me These Questions?

     Why is a Borrower/Buyer asked so many questions by the Lender?  Why does the Mortgage Lender require so much documentation, so much paperwork, and so much proof?

    "Today's mortgage processing and underwriting is all about producing a fully-documented story.  There can be no part of the story missing, out of chronological order, or not making sense to the Underwriter and Lender receiving or reviewing it," says Mortgage Lender Gene Mundt, in the comments to the Original Blog.



Lately my buyers have been asking me this question. They feel that some of the things that the loan officer is asking for is none of their business. Sometimes I tell them if you were lending me over 300K what you would you ask me? Sometimes that does the trick other times it does not. I had one guy tell us one thing that we needed verified by his employer. Neither he nor the employer would put in writing like required by law.

        I explain to my buyers that many of these things are required by law and we must fully comply with these requirements.

        I explain that it is harder and harder to get credit but that the loan officer wants them to buy their dream home, so if he is telling you that he needs something it is because he really needs it. I also tell them to keep a copy of everything they send the loan officer so that if it is asked for again they have it handy.

             We also reached this because of many unscrupulous lenders and I tell them a couple of stories that I will save for later blogs.

        So the loan officers ask for all these things to get you the best loan possible and to get you a loan.





If you would like some information on David

Weekley Homes in Silver Ranch call or e-mail

Me at 281-804-9265 or

Yolanda Cordova-Gilbert on bridge

Frederick Griffin, Licensed Florida Real Estate Broker    







Tallahassee Florida Metropolitan Area    


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.



I understand why clients wonder what they will be going through. Some of the questions are a little crazy, but most understand that is the process today.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) about 7 years ago

It is a new day or rather a return to the old days when mortgage lenders want to know who they are lending to rather than can you sign on the loan documents!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) about 7 years ago

Fred, it is all about documentation these days.  Lenders are being hit with "Buy Back" because of lax documentation on prior loans.  There are only so many loans you can Buy Back before your Warehouse Line is dangerously low, and the next step is your doors are closed.  So it is document, document, and then document some more.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 7 years ago