@Anonymous wrote:
@Jnbmom wrote:
Sorry OP it always makes me wonder about CUs. I just recently got an approval for PSECU with no POI but have been a member for well over a year my dh also has a recently opened savings account and applied for credit card requested 2 years of tax returns and paystubs , we declined as I don't like to provide tax forms (just my preference) so not sure if that has anything to do with length of time with said CU.
How much income you and your husband in ideally mentioned on the application? How long your husband has been a member with this PSECU? This CU doesn't seem to have specific procol to follow across the board. Don't know if its about the length of membership and/or income that play a role in triggering for POI...But I strongly believe that different underwriters have different modus-operandi over here.....some always ask some for specific kind of documents for POI, while others don't ask anything. Many members on this forum have had reported about getting approved without POI, but in my case I was asked to submit last two year's tax returns and 3 years' bank statements. Mod cut-please do not use identifiable info for non public figures was the underwriter on my application. Kinda very unusual as I don't see any datapoint about demanding bank statements by this CU...
It's important to note that ultimately algorithms flag applications based on very complex criteria. During any manual reviews, there are conditions that an UW (or several) can ultimately decide whether additional information is required to support the lending decision (based on each FI's internal lending policies) or place further conditions for an approval recommendation. This isn't about a particular UW out to get you and let someone else have a free pass. No CU, just like an individual profile, is the same as to their approach.
IME, UNFCU and some local ones requested POI while BECU, DCU and others did not. So, this isn't about defying the odds of gravity or whatever forces are at work when an UW review comes into play. Experiences will always vary and, just like @Jnbmom mentioned upthread, some individuals feel comfortable providing tax documents while others do not, and that's perfectly ok.
