Underwriting and bank statements

[kleahc]

I was assured by my LO that their underwriter would need 60 days/two months of bank statements. I have seen a couple of posts on this board where during the underwriting process they have been asked for more than originally provided. How often does that happen, and why?

[TimeToRecover]

In my case it is or wll be the timeline.  

[kleahc]

Ah. So, my LO said "the most recent 60 days" so, most recent by the date we close?

[TimeToRecover]

most recent now and then you may have to add more depending on when you close.  I think some may ask for more history as well, dependent on the underwritter.

[cebams]

What else other than deposits are they looking at?

[StartingOver10]

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@cebams wrote:
What else other than deposits are they looking at?

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Checking NSF's and OD's etc

[jcrsmom]

This is my worst part of doing a mortgage.  I am not doing anything illegal or anything but it makes me nervous having someone look at something so personal.  

[bradb]

I had to provide 3 months up front and since my closing date is so far out from the time I applied (Applied on 3/31, closing 6/16) I have to provide new statements every month.

[ShanetheMortgageMan]

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@bradb wrote:

I had to provide 3 months up front and since my closing date is so far out from the time I applied (Applied on 3/31, closing 6/16) I have to provide new statements every month.

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+1.  Bank statements expire after 30 days, so every 30 days (i.e. when a new statement comes out) the new one needs to be provided.