Approval process issues – Road blocks

The approval process isn’t difficult as long as your paying attention to the details. Here are what we see underwriters questioning everyday.

• Internet printouts in place of actual bank statements: These often to not show account numbers and names
• We need all pages of statements (Yes, including the irrelevant last page)
• Large, non-payroll deposits need to be explained and documented
  (Such as a $500 savings deposit)
• Earnest money deposits must clear your account to get credit at closing – Be sure your realtor deposits your check ASAP to expedite clearing your account
• Include ALL schedules & pages when providing tax returns
  (Not just first 2 pages of 1040)
• Page 2 of 1040 needs to be signed
• Be sure your drivers license is NOT expired!