wrong information in my application

Guest 0.10 Dollars($)

Hi,

I found the information, regarding my income and a lot of similar details, provided wrong in the application sent to me by the lender to sign. Mad

How, this kind of things happen when I requested them repeatedly to process my application fast? What should be done now? Sine the process is still on, I don't want to name the company.

Guest 0.10 Dollars($)

Hi,

I don't know these professional companies do such mistakes. I had similar problems with mine last year. Sad

I shall advise you from my experience to inform them about the mistake and ask them to get it rectified.

After all, you are the victim and it becomes your botheration. I don't know how efficient your lender is in his services. If he is not then you must follow it up closely.

Best of luck.

risingsun

Samantha · Posted: Sat Jan 21, 2006 1:34 pm Post subject:

Hi,

It is disgusting to hear of such carelessness on your lender's part. The companies should give proper value and attention to their customers.

It happens with some companies though and you can beleive me that all are not the same. I feel sorry for your situation.

You need to contact them immediately and get it rectified. If you feel they are reluctant with the process, then you should look for some other company.

Since, you have to have a long term relationship with your lender, so an efficient company should be contacted to take care of your situation rather than wasting time with them.

But mistakes do happen sometimes. So, I shall suggest to know first whether that was unintentional and how much they are keen to rectify themselves.

Wish you success and a good deal. Smile

God bless you.

For MortgageFit,
Samantha

Guest 0.10 Dollars($)

Meet the lender personally to get the information rectified. You can get an idea of his attitude towards the whole process thus.

Douglas

Guest 0.10 Dollars($)

Thanks for the suggestions. I felt some what releived sharing my problems with you. Smile

I shall contact the company by Monday.

ckalvesmaki · Posted: Sat Jan 28, 2006 8:06 am Post subject: Mortgage Application Errors

Just my .02 on this subject. Errors on a loan application can have some fairly serious consequences. Not trying too scare anybody here but it is called fraud. A broker or LO can make mistakes on the GFE,Til etc......but the loan application is what the approval is based on and if you know it's wrong it may affect the outcome of the approval. Something as simple as not having a debt listed in your liabilities can be enough too put you and the LO/broker at risk for charges of bank fraud,mail fraud, wire fraud etc......Now having said that different lenders calculate debt and income differently.......i.e with an ALT-A or nonconforming lender they will zero out the payment on an installment loan if you have less than 10 payments left or go strictly off of your YTD income insread of averaging it. It is important too understand why there are variances on the application and make sure they are noted.

Guest 0.10 Dollars($)

Hi all,

I got them rectified today. I went to them personally with all the relevant documents and got it done.

But it is wastage of time as I had to skip my office for the whole day. Anyways, thank god that is over now.

Cedric, you have scared me. So, these types of fraud cases are also happening. It's a horrible thing for common people like us.

We need to be careful in the future. At least suggestions and information from professionals like you give us a boost to proceed forward.

Thanks again,
Stanley

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