cancel
Showing results for 
Search instead for 
Did you mean: 

UW getting crazy with the Gift funds.

tag
Bishop709
New Member

UW getting crazy with the Gift funds.

Is it me or is this a bit extreme.  UW is requesting proof that the person is related to my wife.  They are asking for birth certs for all family members showing that the person is in fact my wifes cousin.  Is it me or does this seem a bit extreme.  Can they even do that?

 

 

Message 1 of 4
3 REPLIES 3
Phunior88
Member

Re: UW getting crazy with the Gift funds.

I think the UW can justify asking for something they want depending on where you go. However that does seem very extreme to ask for a birth certificate. I don't think it should matter if there is a blood relation or not as long as the UW can verify it was a gift from the person.

Message 2 of 4
CM1
Valued Member

Re: UW getting crazy with the Gift funds.

That seems extreme, i only had to fill out the paper they provide stating the relationship and gift amount.

Message 3 of 4
justjunie928
New Contributor

Re: UW getting crazy with the Gift funds.

It is a little extreme, according to HUD they don't necessarily have to be a relative, you just have to be able to document and source the funds of the gift.

An outright gift of the cash investment is acceptable if the donor is

  • the borrower’s relative
  • the borrower’s employer or labor union
  • a close friend with a clearly defined and documented interest in the borrower
  • a charitable organization
  • a governmental agency or public entity that has a program providing home
  • ownership assistance to
    • low- and moderate-income families, or
    • first-time homebuyers.
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.