Have These Items Ready When You Apply For a Loan
It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getting answers quickly so alternate documentation has become more widely used. Alternate documentation means that underwriting answers can be obtained with information supplied directly from the borrower instead of waiting around for verifications to come back in the mail.
The following is required for most standardized loans as part of alternate documentation processing. Items may differ according to whether your loan is a conforming (Fannie Mae or Freddie Mac), non-conforming (jumbo) loan, government loan, or a portfolio loan.
Verifications are still mailed out, but usually as part of quality control procedures.
These are the things you need to supply to your lender to get a quick approval using alternate documentation
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The HSMLS Data on this site was last updated: 2019-07-16.
Information deemed reliable but is not guaranteed.
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Cooperative Arkansas REALTORS® Multiple Listing Services, Inc.© 2019. All rights reserved. Information deemed reliable, but not guaranteed. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available. The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Cooperative Arkansas REALTORS® Multiple Listing Services, Inc. Real estate listings held by brokerage firms other than Hot Springs Realty are marked with the Broker ReciprocitySM logo and information about them includes the name of the listing brokers. Broker ReciprocitySM information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.Listing information last updated on 2019-07-16 07:37:39