Why do a underwriter need a college transcipt?

[GRILLMASTERNEEDAHOUSE]

The mortgage process has been pretty smooth and currently pre-approved due to close this month. My wife have students loans she is paying back all up to date and current, never late. So why would a underwriter need the actually school transcipt? What do the transcipt have to do with the amount owe per month? I don't get this one.

Thanks!

[Anonymous]

They want to verify that she was actually in school and did grauate or is supposed to graduate when you told them she would.  I had to submit my transcript and a copy of my degree since I did not work while I was in school.  Before the plague (mortgage meltdown) underwriters would just take your word.  Not so much now.  It just depends on the u/w.

[DallasLoanGuy]

typically, we ask for them when the recent grad doesn't have 2yrs job.

[GRILLMASTERNEEDAHOUSE]

Ok, it makes a little better since now. I figure the recession had something to do with it too.

[Anonymous]

Like Dallas said, in my case they asked for my transcripts because i graduated in May and started working in June. In order for them to use my 2 yrs schooling as "job history" they wanted to make sure my job is in the same field as my degree.