topic Re: Underwriting Wells Fargo in Mortgage Loans

Underwriting Wells Fargo

Anonymous — Tue, 13 Nov 2012 16:55:46 GMT

We are having our file reviewed with Wells Fargo for a VA loan. We were asked to provide explanation for previous inquires on our report... Which were all mortgage pulls. Is this standard underwriting ? Anyone experience this?

Re: Underwriting Wells Fargo

r1lukasz — Wed, 14 Nov 2012 03:55:45 GMT

they ask me too and its for fha , I have 3 before they pull credit at WF

Re: Underwriting Wells Fargo

Anonymous — Wed, 14 Nov 2012 03:57:45 GMT

We went with Veterans United and they never questioned one inquiry. And I have 13 inqs this year.

Re: Underwriting Wells Fargo

ceejx — Wed, 14 Nov 2012 04:28:42 GMT

Letters of explanation for inquiries is pretty common.. probably within their rules to ask for LOE for every inquiry within 12 months regardless of what they think it's for. I'll find out tomorrow if I have the same condition as I have quite a few.

Re: Underwriting Wells Fargo

webhopper — Wed, 14 Nov 2012 18:56:05 GMT

@Anonymous wrote:
We are having our file reviewed with Wells Fargo for a VA loan. We were asked to provide explanation for previous inquires on our report... Which were all mortgage pulls. Is this standard underwriting ? Anyone experience this?

This is perfectly normal. I was writing Letters explaining the company's own pulls!!