Underwriters Always Ask for Something Else!
Going through the loan process for most people only happens two or three times in their life. Many people are frustrated when one experience differs so dramatically from the last. Why is it so different?
On a day-to-day basis, the mortgage process is always in some state of change or transition as lenders and regulators make changes in their processes, qualifications, programs, etc. The result is, by the time several years pass and you’re going through the process again for a new home purchase or a refinance, enough changes have been made that it seems completely different than it was before.
Many of my clients get concerned because they give me a bunch of paperwork upfront when I submit their loan but a week or so later, I’m back asking for additional paperwork. Is there a problem? Did I not get everything in the beginning I was suppose to?
The answer is, yes I did, but the underwriter can always request additional documentation. Remember, as I have said, in earlier posts, the underwriter’s job is to find a reason to deny a loan, not approve it.
My loan officers and I try to get as much as we reasonably can at the beginning to save having to call you and ask for something else later, but, unfortunately, for both of us, it is sometimes inevitable. Underwriters always seem to want something else. (I secretly think they get bonuses based on the number of pieces of paper they can collect on each loan 
)