Quote:
Originally Posted by Poppy  ...Oh believe me they are pulling credit for purposes of third party verification of data...like employment, consumer debt, other mortgage debt, status of debt, residency issues, and a variety of other issues. They are or should be pulling core logic, MERS/MIN and a whole bunch of tools to assist in the data integrity process, valuation, other property ownership, we have a bunch of them at our disposal, Interthinx, DISSCO, Sysdome... |
So in your opinion, in which direction do they lean for borrowers that had excellent credit (820+) before getting caught up in the recent mess. Add to that everything provided regarding assets, income, etc. was honest. And finally no debt other than mortgages? Would they be more likely to forgive as it is one mistake in an otherwise good record? Or more likely to persue all they can get as the borrowers might be more able/likely to pay?
This is all very interesting. I just wish I wasn't learning because I am in this situation. But no one said education was inexpensive...
Cheers,
Ima