{"id":2858,"date":"2012-05-16T11:54:49","date_gmt":"2012-05-16T11:54:49","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=2858"},"modified":"2012-05-16T11:54:49","modified_gmt":"2012-05-16T11:54:49","slug":"lenders-put-borrowers-through-more-scrutiny","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/lenders-put-borrowers-through-more-scrutiny\/","title":{"rendered":"Lenders Put Borrowers Through More Scrutiny"},"content":{"rendered":"

Lenders Put Borrowers Through More Scrutiny.<\/h2>\n
\"Lenders<\/a>

Lenders Put Borrowers Through More Scrutiny<\/p><\/div>\n

Home buyers and refinancers applying for a mortgage are being caught off guard in what all lenders are asking for when approving a loan.<\/h3>\n

The Wall Street Journal reports an incident where a borrower was even asked for a copy of her divorce decree \u2014 from two years ago \u2014 and asked to explain a deposit of about $200 into her bank account when applying for a mortgage.<\/p>\n

Lenders<\/strong> are being more careful in who they issue a loan to nowadays, tightening underwriting standards and carefully documenting applicants\u2019 finances and ability to repay the loan.<\/p>\n

Practically nothing is off the table these days when it comes to what a lender may ask for. Lenders<\/em> may question any deposits to bank accounts, increases in a borrower\u2019s income, and any disputed balance over a late payment, even if it was from years ago. Some lenders are even requesting college transcripts and diplomas in verifying employment history.<\/p>\n

Any credit inquiries on a person\u2019s credit invites red flags and more questions from lenders, Rhonda Porter, a loan officer in Seattle, told The Wall Street Journal.<\/p>\n

“I have customers who know they’re a strong [borrower], and they’re still asked for documentation,” Porter says. “Some of them get their feathers ruffled.”<\/p>\n

Some borrowers \u2014 particularly refinancers \u2014 are getting so frustrated by the extra paperwork and questions that they are increasingly just stopping the process, according to news reports.<\/p>\n

Stella Adams, a fair housing advocate in North Carolina, says banks need to lighten up. Banks should return to “solid, old-fashioned underwriting” standards that were used prior to the housing boom and stop making it so difficult for people to get financing.<\/p>\n

Source: “Lenders Want to Know Everything<\/span>,” The Wall Street Journal (May 12, 2012)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Lenders Put Borrowers Through More Scrutiny. Home buyers and refinancers applying for a mortgage are being caught off guard in what all lenders are asking for when approving a loan. The Wall Street Journal reports an incident where a borrower was even asked for a copy of her divorce decree \u2014 from two years ago … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-2858","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nLenders Put Borrowers Through More Scrutiny - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"description\" content=\"Lenders Put Borrowers Through More Scrutiny.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/lenders-put-borrowers-through-more-scrutiny\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/lenders-put-borrowers-through-more-scrutiny\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/lenders-put-borrowers-through-more-scrutiny\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Lenders Put Borrowers Through More Scrutiny\",\"datePublished\":\"2012-05-16T11:54:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/lenders-put-borrowers-through-more-scrutiny\\\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/lenders-put-borrowers-through-more-scrutiny\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2012\\\/05\\\/Mortgage-Form.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/lenders-put-borrowers-through-more-scrutiny\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/lenders-put-borrowers-through-more-scrutiny\\\/\",\"name\":\"Lenders Put Borrowers Through More Scrutiny - 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