Have These Items Ready When You Apply For a Loan
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, the interest is often in speed and getting answers quickly so 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 is required for most standardized loans as part of alternate documentation processing. Items may differ according to whether your loan is a conforming (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.
These are the things you need to supply to your lender to get a quick approval using alternate documentation
Rue and Associates, Montana Realty Company
Red Lodge, Billings & Cooke City, MT
Main Office:
12 North Broadway
P.O. Box 2284
Red Lodge, MT 59068
Phone: 406-446-4744
www.montanarealtycompany.com
www.redlodgerealestate.com
Myrna Rue, Broker/Owner
Website
Mobile: (406) 670-5707
Email: myrnarue@gmail.com
Sandy Conlee, Associate Broker
Website
Mobile: (406) 425-1457
Email: mtconlees@gmail.com
Laurie Windjue Haugen, Associate Broker
Website
Mobile: (406) 860-1090
Email: lauriehaugen@gmail.com
Joy DeSaveur, Associate Broker
Website
Mobile: (406) 670-8818
Email: joydesaveur@gmail.com
Jim Hilderman, Associate Broker
Website
Mobile: (406) 425-1540
Email: jim.hilderman@outlook.com
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