@ccarlson was there a reason why you needed to bring your retirement accounts. Were you planning on withdrawing money from those accounts for buy down? I have an intake appt coming up and I hadn’t planned on providing that info because I’m not touching that money.
My question is about LOE’s, what’s more acceptable?
Should I write separate LOE’s for each Zelle transfer and cash withdrawal
Or can date and group them together on One LOE to make it easier to understand and more transparent?
It’s not a question of what’s more acceptable. It’s that grouped LOE’s are not acceptable. You will be required to have 1 LOE for each and every transaction in question. It’s a pain but, it’s worth it…the UW do not connect dots in any way shape or form. They look at transactions with blinders on and skip the bigger picture. They want to go through everything line by line and make sure each line is not associated with anything else in your file. It sounds counter intuitive and not transparent but, that’s how it works.
If you are able to get a group LOE passed your MC what will actually happen is the UW will associate that 1 LOE with 1 specific transaction and mark the others as still needing an LOE. Then when they go back to review your file again they will get confused.
This reply was modified 2 years, 5 months ago by Nelsont.
Going to intake soon. We recently resided with relatives and we do not pay rent (we have been saving our full shock payment for 6+ months) however we pay all the utilities in the house. (The bills are not in our name) Would it be any benefit to bring the utilities bills?? We have established ontime credit-card and cellphone payments for 10+ years.