(Woodridge, IL, USA)
I assist employees that are transferring from one city to a new city within the USA. I connect them with 5 major mortgage lenders that we have a very good relationship with and they know these employees are in need a new mortgage on a new home.
These lenders now have a massive amount of the new restrictions in place because of the most recent fiasco's that they originally caused in the FIRST PLACE! Honest, credit worthy individuals are now struggling to obtain a new mortgage and basically being put through a wringer by these lenders!
If you find a dollar bill on the sidewalk and deposit it into your bank account they want proof of what street you were on, what time of day was it, what were you wearing, etc. Okay, that's an exaggeration but it is extremely rigid with no room to give anyone the benefit of the doubt or take their "word" for it.
I have had families with all their house hold goods on a truck, heading to their new city with the lender refusing to close on their new home because one item was not verified! These families wind up in a hotel, stressed and exhausted and their furniture goes into a storage facility; waiting to be delivered! Most of these families have small children and pets and if you have ever traveled with two or three tired kids across country you can imagine what your frame of mind you would be in when you find out at the last minute you can't buy the house you have painstakingly worked so hard to purchase!
It drives me crazy that these lenders have no problem displacing these families and can sleep at night! Now I tell my transferees to give the lender a strand of hair so they can check their DNA so they can close on schedule!
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