A lender told me the following story yesterday: a buyer came to him for a purchase money loan on a particular property. The buyer had an independent "loan coordinator" working with him in addition to his own Realtor. Sufficient documentation, including several Wells Fargo bank statements, paycheck stubs, and verification of employment were turned into the lender with the loan application. Everything was proceeding along just fine.
Then, one of the lender's staff did the last minute check to make sure the bank statements matched the bank records. They didn't. The Wells Fargo bank statements were forgeries. Excellent forgeries, says the lender.
Needless to say, the loan didn't go through. The lender says that the independent "loan coordinator" wanted to know exactly what triggered the denial. The lender thinks the loan coordinator wants to know how to do his job better next time.
Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
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