When trying to get a mortgage loan, is there a way for the loan officer to find out if my client?

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has been late paying his rent within a 12 month period if my client gave him a different address other than where he was actually living? I’m a real estate agent by the way.

2 Comments
  1. Reply
    golferwhoworks
    May 14, 2011 at 11:45 pm

    yes as there will be a verification of rent form sent to the landlord for this and if the landlord is not a company and is private then the borrower will have to produce rent checks for the last 12 months with dates and show the back of the checks as well for proof of timely payment
    I am a mortgage banker in TN & KY

  2. Reply
    Beverly S
    May 14, 2011 at 11:54 pm

    Oh yes! We require proof of rent payments for 12 months, if rent was paid to an individual they must show 12 months cancelled checks and we send a V.O.R. (verification of rent to the landlord). The credit bureau also shows your clients previous addresses, so that will send up a red flag when the address he gave isn’t on the bureau. The job of the loan processor is to verify all information given on the credit ap. I’m surprised as an agent you aren’t aware of this. Your client also signs the 1003 (application) stating that all info given is true and accurate. It is a FEDERAL OFFENSE to give false info. and the lender can prosecute. Also with you working for the client- if it came out that you knew that he gave false info. you could be sued as well. Be very careful. You don’t need that reputation in this business!

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