refinancing my mortgage after my ARM expires the bank requesting all my paperwork and financials. …………?

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I refinancing my mortgage after my ARM expires the bank requesting all my paperwork and financials are in order. They just seems to be asking for stuff one document at a time. And finally the mortgage loan officer request the birth certificates of each my child????.Why do they need the birth certificates of each my child?What are my options at this point? Some thing is wrong here.

Thank you & wish you all Happy Holidays & Merry Christmas

  1. Reply
    the kid
    May 4, 2011 at 3:38 am

    You can go find another lender to refinance with.

  2. Reply
    May 4, 2011 at 4:17 am

    Refinancing requires all the steps you went though for your first mortgage. From appraisal to title search

  3. Reply
    May 4, 2011 at 4:36 am

    14 years in the mortgage business and I haven’t yet asked anyone to provide a birth certificate. The goal as a loan officer is to get the documents necessary for approval up front all at once to get the fastest approval before rate locks expire and your borrower takes their business elsewhere.

    It is your loan officer’s job to keep you informed and the fact that you are being kept in the dark is a good sign you should be looking elsewhere to refinance. If you have paid for an appraisal you probably can’t transfer the appraisal to a new lender. If you don’t get a satisfactory explanation from your current lender you may have to go to someone else to get it done.

  4. Reply
    May 4, 2011 at 5:05 am

    Welcome to the world of refinancing in 2010.

    I think some of the items they ask for is just because they ran out of things to ask for but they wanted to ask more questions, so they make some hocky questions up.

    I own two small businesses and could pay my house off, if I wanted and I have a credit score of around 797 (it’s not like I’m a risk). I started the refinance process in mid-October. This week I get a question asking for IRS Form 4506-T, which is giving permission to the re-fi company to get a copy of my tax returns directly from the IRS. As a self employed person, it’s easier for me to submit fraudulent tax forms, so this is probably a standard process. But why did they wait 2 months to ask for this = just silly!

  5. Reply
    Expert Realtor
    May 4, 2011 at 6:03 am

    The bank is giving you money for essentially paper, to asking for financial documents is STANDARD among lenders. No doc loans have gone away.

    However, asking for one document at a time means you are dealing with an inexperienced loan officer. Call the branch manager and tell them you want a LIST of what is needed and any other documents that are asked for, you need an explanation.

    I can tell you why they need the birth certificates of the kids. Are you claiming child support as income? If so, you have to prove a 3 year continuance…so they need the birth certificates of the children in order to prove their ages. That is a STANDARD request.

    If you don’t want to use the child support income, then they do not need the birth certificates of the children.

    Nothing you wrote stood out to me as being odd.

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