[e] KWeninger@fairwaymc.com
[p] 920-960-0852

Stay On Track During the Mortgage Process

The home finance process today is more involved than it has ever been. Your willingness to provide your lender with the documentation that’s needed to keep the process moving is critical to reaching your closing date on time.

For the most part, mortgages are sold off by the lenders once they close. They also go through an intensive audit process as they are in the process of being sold. Effectively, what the lender is doing by asking for all of this documentation is building a case against audits that may come up.

Worst case scenario

In a worst case scenario, if the loan after it closes is found to be “defective,” the new investor may require that the lender buy it back. This is the last thing anyone wants to happen.

That is why lenders, from the processors to the underwriters, are so meticulous when they put a file together. Lenders would rather see an uncooperative buyer’s file sit for some time, and potentially never close, than push something through that isn’t properly documented. It really isn’t worth it to them.

While buyers may complain about all of the work and time it’s taking to get to the closing table, they need to keep in mind that no one is doing this just to make their lives more complicated.

Home finance is a business, and since the mortgage meltdown, it benefits all parties involved, and society at large, that mortgage lenders insist on this level of scrutiny.

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Kristine Weninger
Loan Officer NMLS ID 225608
836 Park Ave
Beaver Dam, WI 53916
Direct 920-960-0852
Office 920-219-4200
Fax 920-219-9987


Fairway Independent Mortgage

NMLS# 2289

Complaints may be directed to:

(877) 699-0353 or

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Copyright ©2018 Fairway Independent Mortgage Corporation. NMLS#2289. 4750S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.

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