| Long or unrealistic commute from work to home |
|
| Buyer downgrading from larger to smaller home, unless empty-nesters |
|
| New home too small to accommodate all the intended occupants |
|
| Buyer is currently living in property and buying it from landlord. Verify rent payments made. |
|
| Down payment other than cash |
|
| Borrower claims they are going to resell current home but have not put it on the market |
|
| Deposit is a promissory note |
|
| Stocks and bonds shown as assets but not publicly traded company |
|
| Face (not cash surrender) value of life insurance policy shown as liquid asset |
|
| Borrower buying investment property but currently renting own home |
|
| Price and date of original purchase not shown on refinance |
|
| Borrower and co-borrower work for same employer. Self employed? |
|
| Same phone number for home and business |
|
| Borrower holds stock in employer (shown as asset). May be self-employed |
|
| Personal property value greater than one year's salary |
|
| New housing expense more than 150% of current housing expense |
|
| High income borrower discloses little or no personal property |
|
| Loan payments too high with respect to salary |
|
| Significant changes from the handwritten to the typed loan application (if applicable) |
|
| Invalid social security number |
|
| Borrower lives with parents |
|
| Years of schooling not consistent with job or profession |
|
| Discrepancies between dates on application and verification forms |
|
| Sales price far below market value |
|
| Borrower getting a second mortgage, especially from the seller |
|
| Deposit checks dates are inconsistent |
|
| Name and/or address on deposit/down payment check different from borrower |
|
| More than one purchase contract |
|
| Earnest money/ binder check not cashed |
|
| Borrower is not the purchaser shown on the contract |
|
| Borrower related to seller |
