cancel
Showing results for 
Search instead for 
Did you mean: 

Underwriter request strange and even legal ?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
New Member

Underwriter request strange and even legal ?

The underwriter is requesting a letter of explanation of your relationship with each other since neither of you are married but are co-occupying the house,
Message 1 of 5
4 REPLIES 4
Community Leader
Senior Contributor

Re: Underwriter request strange and even legal ?


@Randyh wrote:
The underwriter is requesting a letter of explanation of your relationship with each other since neither of you are married but are co-occupying the house,

I don't find that strange or illegal. 

 

You are making a major purchase and they want to know the extent of your relationship,  I mean you are both responsible for the mortgage they just want to make sure your relationship is gonna outlast the mortgage terms.

EXP 763 TU 793 EQ 734
Message 2 of 5
New Member

Re: Underwriter request strange and even legal ?

The mortage application ask if I was single or married and now that it’s in underwriting they want us to DocuSign something stating our relationship. So if we are just fiends it’s a no go ?? Just seems odd to me
Message 3 of 5
Valued Contributor

Re: Underwriter request strange and even legal ?

Just be honest and you should be fine.

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $350k+ unsecured credit in 2020.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                       5%-20% - Amazon & Lowes                  3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything Else - Flagship             1% Cancer Charity - Fifth Third             0% Finance Promos - Venture & QuickSilver





                           
           
Message 4 of 5
Valued Contributor

Re: Underwriter request strange and even legal ?

Well while that kind of question is not asked as much as it was years ago, it’s not totally unusual either. The concern is if one of you is really a non owner occupant could borrow with no intention to have both of you live in a property as owner occupant. I think UW should have worded their request differently due to the “political correctness”. You are buying a home and getting a loan intended for Owner Occupants.
Dancing around the subject as to whether you are friend, partners, same sex..... so UW asked it as legally as they could.
Frankly two friends who can’t afford a home on their own but can join with a friend known for years in a nice place to live us just fine. Why pay rent when you can buy a house with a buddy.
I know divorced older women who have done the same thing!
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.