Client: Why do you wait until the last minute to ask us for this stuff? Loan Officer: Why do you wait until the last minute to give it to us?
I have heard so many people ask why we wait until the last minute to ask them for certain documents for a loan approval. I have a few answers. Mostly it is because many times the mortgage borrower has waited until the last minute to give it to us! Fannie Mae requires certain documents, that get underwritten, that many times yield more paperwork needed. And do you know what happens when you submit last-minute document requests? You get last-minute answers. And there is nothing more frustrating than