Verification of rent

[Anonymous]

We were conditionally approved for a FHA loan and they never verified my rent all history does that have something to do atutomated underwriting and my credit score my mid is 670

[kc0039]

If our Automated Underwriting System doesn't require for a verification of rent, we won't ask for it.

[Anonymous]

Ok. I figured that is why it wasn’t asked for

[Anonymous]

How do you know if you will be asked for Vor? I was preapproved and we submitted an offer on a home last night, but was wondering if i will be asked for rent verification.

[kc0039]

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@Anonymous wrote:
How do you know if you will be asked for Vor? I was preapproved and we submitted an offer on a home last night, but was wondering if i will be asked for rent verification.

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Our system will ask for it.

[Anonymous]

Thanks for the reply, but i was more interested in what might cause a system to ask for Vor? If no negative items other than a bankruptcy from 2014 and a mid fico score of 702. Also a backend ratio of 38.6% cause the system to ask for VOR? Thanks for the info, i know not all lenders are the same but just asking to be aware.

[kc0039]

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@Anonymous wrote:
Thanks for the reply, but i was more interested in what might cause a system to ask for Vor? If no negative items other than a bankruptcy from 2014 and a mid fico score of 702. Also a backend ratio of 38.6% cause the system to ask for VOR? Thanks for the info, i know not all lenders are the same but just asking to be aware.

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From what I've seen.. score of 620 or below and the results from our system requiring a manual underwrite.

[Anonymous]

Sounds good, Thanks.