If our Automated Underwriting System doesn't require for a verification of rent, we won't ask for it.
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.
Our system will ask for it.
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.
From what I've seen.. score of 620 or below and the results from our system requiring a manual underwrite.