I have a house that I live in and rent out some of the bedrooms to college students. There is also a second unit on the property that I rent out.
I'm applying for a loan modification from Bank of America. They asked for the usual documentation from me and copies of rental agreements and canceled checks showing payment of rent from my housemates. I provided all that.
Now they also want 2 months bank statements of my tenants and boarders! And something called a "non-bwr credit authorization form" from each of them.
Is this legit? How as a landlord can I demand my tenants and boarder turn over copies of their bank statements?
And what the heck is a "non-bwr credit authorization form" and where do I get them?