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2015-08-14 10:19:19
What Is The Biggest Reason For Mortgage Delay

Most people, even those in the Real Estate business would probably answer this question by saying Income and Credit issues are the the major reason for mortgage delays.  However, they would be wrong.  Income and Credit Issues are major reasons why Borrowers are not able to qualify for a Mortgage, but they are not the single biggest reason for mortgage delays once the loan is in process.  So What Is The Single Biggest Reason For Mortgage Delays?  The single biggest reason for mortgage delays are assets, and more specifically verification of assets.  Despite the recent relaxation of asset verification by Fannie Mae and Freddie Mac, Lenders in many cases are still requiring even small deposits and withdrawals on a bank statement to be documented and verified, if the origin of the deposit or withdrawal cannot be identified on the bank statement.  For example, an auto payroll deposit can be easily identified on a bank statement, because it is labeled where it came from, or an online payment which states who it was made to.  However, the origin of a cash deposit cannot be be identified on a bank statement, therefore, will need to be documented and verified.Most people pay their bills 

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2015-08-14 10:19:19
What Is The Biggest Reason For Mortgage Delay

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