http://seuabrigo.com Sun, 12 Dec 2010 10:00:19 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://seuabrigo.com/2010/12/owner-occupied-property/#comment-3 tony Sun, 12 Dec 2010 10:00:19 +0000 http://seuabrigo.com/?p=6#comment-3 Be careful ... if you don't and the client defaults, the lender could make you buy the loan back. What does the file documents show? Does he/she own other property? What addresses are on the supporting bank statements, checkstubs, tax returns, etc.? Is this a move-up, i.e., bigger better home or from apartment building to single family? Be careful … if you don’t and the client defaults, the lender could make you buy the loan back. What does the file documents show? Does he/she own other property? What addresses are on the supporting bank statements, checkstubs, tax returns, etc.? Is this a move-up, i.e., bigger better home or from apartment building to single family?

]]> http://seuabrigo.com/2010/12/owner-occupied-property/#comment-2 admin Sat, 11 Dec 2010 09:00:13 +0000 http://seuabrigo.com/?p=6#comment-2 If you obey Respas and Truth and Lending Laws you are obligated it will be up to whether you want to go by the Laws or break them, and act as if you know nothing about this. If I was doing this loan I would tell this customer you can not do this and they will have to be honest up front, if the lender finds out any difference they can recall the loan and that could be serious business. Could fall back into your lap can you absorb this? fgm If you obey Respas and Truth and Lending Laws you are obligated it will be up to whether you want to go by the Laws or break them, and act as if you know nothing about this. If I was doing this loan I would tell this customer you can not do this and they will have to be honest up front, if the lender finds out any difference they can recall the loan and that could be serious business. Could fall back into your lap can you absorb this? fgm

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