Posted on: 11th Apr, 2010 07:09 pm
When you have been completly approved by the underwriters do they verify employment again right before closing?
Hi tluvstar,
The underwriters have the rights to verify the employment just before the closing. It will help them in knowing whether or not there has been any changes in your employment. In case, they find that you've lost your job or your wages has been reduced, then the loan may get canceled.
The underwriters have the rights to verify the employment just before the closing. It will help them in knowing whether or not there has been any changes in your employment. In case, they find that you've lost your job or your wages has been reduced, then the loan may get canceled.
a verbal verification is always done at the last minute. in fact, you'll find that verbals are done post-closing and often result in a loan that was sold in the secondary market to come under review. borrowers might still get calls weeks after closing if they've changed jobs in the interim.
