Validating sale of mortgage
When you do this, it’s important to get the terms in writing.It’s also important to remember that the lender will likely give you a time limit on how long these terms and conditions are good for. You are cleared to make an offer on a house with confidence that you will be able to close the deal. It’s still up to you to do everything you can in order to ensure your closing goes smoothly.Lenders that use both VODs and bank statements to determine mortgage eligibility do so to satisfy the requirements of some government-insured loans where the source of down payment funds must be known for mortgage approval.Some consumers may wonder if asking their lenders to verify their deposits rather than review bank statements will help them hide blemishes such as overdrafts.Leverage Flex Search to reduce risk and mitigate fraud by accurately verifying asset, lien and other borrower disclosures.
The second critical task is to lock in your interest rate and loan terms with your lender (more on this later).You can easily export lists to Excel or other tools to manage and execute marketing campaigns.Confidently validate borrower-supplied information with Verified Record, along with advanced search options and real-time access to data and recorded documents.You can get historical answers you need (but couldn’t easily get before) through First American’s real-time Title Chain and Lien Report.pre-approval, your loan representative will instruct you to provide the required supporting documents.
Plus, the integrated map provides a visual perspective to eliminate certain comparable choices that might skew the estimated value of the property, such as proximity to a golf course or freeway.