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It used to be that lenders mailed out verifications to employers,
banks, mortgage companies, and so on, in order to verify
the data supplied by borrowers. Nowadays, things move faster. "Alternate
documentation" has become more widely used.
Alternate documentation means that underwriting answers
can be obtained with information supplied directly from the
borrower instead of waiting around for verifications to come
back in the mail.
The following page lists the items you will most likely
need to speed the processing of your home loan. Items
may differ according to whether your loan is a confoming
(Fannie Mae or Freddie Mac), non-conforming (jumbo) loan,
government loan, or a portfolio loan.
Verifications are still mailed out, but usually as part
of quality control procedures.
 Things
You Need - the "List"
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copyright 2000 by Terry Light and
RealEstate ABC
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