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We put in an offer on a home two weeks ago and it had an contingency that we got our pre approval. The home is a short sale with a medical lien we have to pay at closing. We were working with a mortgage lender and decided to change before we ever put the offer in just because we didn't know them and got a personal reference for another one. After about three weeks and 70+ hours of giving all of my personal information/life history we were told that they would not give us a loan because we had paid rent late one month In the past 12 months. We have done everything from written exclamation for bankruptcy that was over two years ago and have no credit other than my student loans. We paid off the one credit card that we had And then one day before we were supposed to have our preapproval to the sellers bank they said no. So after cooling down from the situation I contacted our original mortgage lender to ask if this Really is a dealbreaker for getting a mortgage or if it was just their company. He said no that if we paid as agreed meaning we had contacted our landlord and it mutually agreed to pay at a different date it was still paid as agreed and they would accept a letter stating this. This is not a problem to do our landlord is happy to help.

 

Now they're requesting a credit supplement of two of our recent utility bills wanting something that has been paid every single month for two years straight on time. This seems like a crazy request to me not that we are bad with our finances but there have been times when we are a day or two late just because we forget or it's a weekend or something. We've never had a utility turned off and never been more than a few days to maybe a week late at top and even that is on rare occasions. I advised them of this and gave him the two recent bills they are now doing this credit supplement and said they would let us know in a few days I am really worried do you guys think this will be a dealbreaker for us??

 

Could anyone explain to me what they do for a credit supplement of utility bills??

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We put in an offer on a home two weeks ago and it had an contingency that we got our pre approval. The home is a short sale with a medical lien we have to pay at closing. We were working with a mortgage lender and decided to change before we ever put the offer in just because we didn't know them and got a personal reference for another one. After about three weeks and 70+ hours of giving all of my personal information/life history we were told that they would not give us a loan because we had paid rent late one month In the past 12 months. We have done everything from written exclamation for bankruptcy that was over two years ago and have no credit other than my student loans. We paid off the one credit card that we had And then one day before we were supposed to have our preapproval to the sellers bank they said no. So after cooling down from the situation I contacted our original mortgage lender to ask if this Really is a dealbreaker for getting a mortgage or if it was just their company. He said no that if we paid as agreed meaning we had contacted our landlord and it mutually agreed to pay at a different date it was still paid as agreed and they would accept a letter stating this. This is not a problem to do our landlord is happy to help.

 

Now they're requesting a credit supplement of two of our recent utility bills wanting something that has been paid every single month for two years straight on time. This seems like a crazy request to me not that we are bad with our finances but there have been times when we are a day or two late just because we forget or it's a weekend or something. We've never had a utility turned off and never been more than a few days to maybe a week late at top and even that is on rare occasions. I advised them of this and gave him the two recent bills they are now doing this credit supplement and said they would let us know in a few days I am really worried do you guys think this will be a dealbreaker for us??

 

Could anyone explain to me what they do for a credit supplement of utility bills??

 

they have a 3rd party(the people who they get their credit reports from) verify the ontimne payments of the utilities.

they don't care if you were a week late..... they care if you were 30days late.

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They said its because we didn't have enough credit basically. Because after bankruptcy we didn't use credit at all to be save. So they needed it to supplement to show we pay bills I'm guess. So if you we were never 30 days late then this should be fine for proving this you would think right? Do you know about how long it takes to get a credit supplement?

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We put in an offer on a home two weeks ago and it had an contingency that we got our pre approval. The home is a short sale with a medical lien we have to pay at closing. We were working with a mortgage lender and decided to change before we ever put the offer in just because we didn't know them and got a personal reference for another one. After about three weeks and 70+ hours of giving all of my personal information/life history we were told that they would not give us a loan because we had paid rent late one month In the past 12 months. We have done everything from written exclamation for bankruptcy that was over two years ago and have no credit other than my student loans. We paid off the one credit card that we had And then one day before we were supposed to have our preapproval to the sellers bank they said no. So after cooling down from the situation I contacted our original mortgage lender to ask if this Really is a dealbreaker for getting a mortgage or if it was just their company. He said no that if we paid as agreed meaning we had contacted our landlord and it mutually agreed to pay at a different date it was still paid as agreed and they would accept a letter stating this. This is not a problem to do our landlord is happy to help.

 

Now they're requesting a credit supplement of two of our recent utility bills wanting something that has been paid every single month for two years straight on time. This seems like a crazy request to me not that we are bad with our finances but there have been times when we are a day or two late just because we forget or it's a weekend or something. We've never had a utility turned off and never been more than a few days to maybe a week late at top and even that is on rare occasions. I advised them of this and gave him the two recent bills they are now doing this credit supplement and said they would let us know in a few days I am really worried do you guys think this will be a dealbreaker for us??

 

Could anyone explain to me what they do for a credit supplement of utility bills??

 

they have a 3rd party(the people who they get their credit reports from) verify the ontimne payments of the utilities.

they don't care if you were a week late..... they care if you were 30days late.

 

how does a 3rd party verify utilities werent late? no utility i know of reports my on time payments but i sure wish they did!

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how does a 3rd party verify utilities werent late? no utility i know of reports my on time payments but i sure wish they did!

 

borrower provides a signature authorization to verify things like this.

credit report people call the utilities and get a verbal payment history.

they put it on a supplemental credit report for the uw

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Can I ask my lender for a copy of this when they get it? Will they provide me with it? I never provided signature authorization so can they still do this or is this something required different in different states I wonder.

 

you can always ask.

 

the signature authorization is a standard form for verifying banks statements and stuff

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So an update. We got an email asking for a signature authorization on Friday which was the day we were expect it to be done but now it won't even go out until Monday, oh well. They also want a VOR (verification of rents) which we had understood as a letter they wrote up and had him sign but now we found it is some kind of questionnaire he has to fill out. Do you know what this questionnaire asks? It seems a little weird because they said it comes from their operations department which is in India? Is this normal to have from out of the country for stuff like this?

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