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Post-Closing Lender Harassement

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CO19

Member
What is the name of your state? Colorado (Lender in FL)

Initiated loan process in 1/05, met all terms of Loan Commitment Letter, and closed on home in mid-July.

We received letter yesterday from lender requesting a SIGNED copy of 2002 and 2003 tax returns (gave them Taxpayer copies in 1/05 - originals were filed electronically by CPA, thus no signature on our copies), and copy of my ID front/back (didn't request husbands), although provided during closing!! Also requested copy of 2004 Tax Extensions or Returns (am self-employed).

When we initiated loan, we signed forms authorizing them to get our tax records from IRS. We feel we are being harassed, have closed on the home, and met ALL of their terms, submitted all requested docs, etc... prior to closing....

Anyone ever heard of this? Are we REQUIRED to keep submitting docs at their request and/or any repurcussions if we don't?? Thank you very much for any feedback!
 


I AM ALWAYS LIABLE

Senior Member
CO19 said:
What is the name of your state? Colorado (Lender in FL)

Initiated loan process in 1/05, met all terms of Loan Commitment Letter, and closed on home in mid-July.

We received letter yesterday from lender requesting a SIGNED copy of 2002 and 2003 tax returns (gave them Taxpayer copies in 1/05 - originals were filed electronically by CPA, thus no signature on our copies), and copy of my ID front/back (didn't request husbands), although provided during closing!! Also requested copy of 2004 Tax Extensions or Returns (am self-employed).

When we initiated loan, we signed forms authorizing them to get our tax records from IRS. We feel we are being harassed, have closed on the home, and met ALL of their terms, submitted all requested docs, etc... prior to closing....

Anyone ever heard of this? Are we REQUIRED to keep submitting docs at their request and/or any repurcussions if we don't?? Thank you very much for any feedback!

My response:

What is so damned difficult to understand?

Send them SIGNED copies. Simple. That's what they want, so give it to them!

IAAL
 

CO19

Member
Response - Post-Closing Lender Harassment

We DO NOT have signed copies of our Tax Returns... We were given "TaxPayer Copies" by our CPA and IRS has the ORIGINALS. They (Lender) have the signed IRS Form on file to obtain the FILED copies of our returns if they choose!!

Point is that they accepted ALL docs and signed-off on loan. Mind you, we initiated loan in 1/05 and were given a LOAN COMMITMENT LETTER and already closed on home. I am more interested in the LEGALITY of their requests and purpose of these requests.

Hope that clarifies the purpose of my post
Thanks Again...
 

I AM ALWAYS LIABLE

Senior Member
CO19 said:
We DO NOT have signed copies of our Tax Returns... We were given "TaxPayer Copies" by our CPA and IRS has the ORIGINALS. They (Lender) have the signed IRS Form on file to obtain the FILED copies of our returns if they choose!!

Point is that they accepted ALL docs and signed-off on loan. Mind you, we initiated loan in 1/05 and were given a LOAN COMMITMENT LETTER and already closed on home. I am more interested in the LEGALITY of their requests and purpose of these requests.

Hope that clarifies the purpose of my post
Thanks Again...


My response:

Are you dense, or what? I don't give a damn what they have, or what you think they have, or what you think they ought to have. Your mortgage is about to be cancelled, and you're going to find yourself living in a refrigerator cardboard box on the sidewalk if you don't get the crap out from between your ears.

You take your State and Federal copies, slap them down on your table, and you both sign those suckers!

Get it? They want SIGNED copies. I don't give a damn if you have 100 electronic copies. SIGN THE DAMN THINGS - - or lose your home.

The choice is yours.

IAAL
 

PghREA

Senior Member
Get out your TAXPAYER COPIES from the CPA, make another copy and sign it and give it to your lender. And while your at it get out your copies of the stack of papers you signed at closing and carefully look through them. There is one sheet that basically says that you will co-operate in providing any information that is needed.


The lender provided you with a lot of cash to buy your home, don't screw it up!
 
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I AM ALWAYS LIABLE

Senior Member
PghREA said:
Get out your COPIES from the "tax guy", make another copy and sign it and give it to your lender. And while your at it get out your copies of the stack of papers you signed at closing and carefully look through them. There is one sheet that basically says that you will co-operate in providing any information that is needed.


The lender provided you with a lot of cash to buy your home, don't screw it up!

My response:

These people don't want to sign, probably because there's something "hinky" going on with the taxes and, they think if they don't sign them, it gives them an "out".

It doesn't work that way. Besides, the lender has already found something wrong and wants signed copies to nail your ass to the wall. You can't win either way. Unless you sign, you're out. If you sign, you're out.

Plan on that refrigerator box.

IAAL
 

CO19

Member
Response

Thank you both for your responses. I am going to call them tomorrow and hope just signing my copy and returning will be ok. I guess I just don't understand why they would be asking for addt'l docs in post-closing and what their concern/suspicions are. This is our 3rd home and never been asked for post-docs with previous lender.... even our CPA finds it strange.

Do lenders often do this and why... what's the motive/reasoning? Do they regret giving us the loan and trying to find reasons to pull our home?

I should mention they were EXTREMELY difficult and disorganized... often asking for duplicate docs b/c they were misplaced. Would never use again.

Anyways,
thanks.

P.S. To the responder that elluded to me being in any way "dense", I do hold a professional license and state-regulated in occupation. Nonetheless, I appreciate the reply, as condescending as it seemed.
 

sadsam

Junior Member
Signing Loan Documentation

I actually am in complete agreement with IAAL on this issue. Most loan documentation departments have SOPs. In order to be in compliance there are certain guidelines that must be followed, espically if you are dealing with any government backed guaranteed loans. All documentation submitted to a bank or mortgage company has to have an original current date and signature placed upon the copy, whether it be a tax form or any financial statement. Some loans take longer than others to process and by the time the loan gets ready to close the signature is already outdated (generally 90 days). The loan processor and closer are operating upon SOP and must have accurate documentation so that when the auditors come to examine each loan everything must be documented per SOP. If audits produce large amounts of descrepencies it can be serious (especially gov. backed loans) and lender status can be pulled.
 

pojo2

Senior Member
To the original poster,first quit being so melodramatic (“We feel we are being harassed”) and then to read your Compliance Agreement (AKA: Cooperation Letter) that you signed.

You agreed to cooperate and provide documents and corrections to documents for a 90 day period after closing.

So as you can see there is absolutely nothing strange at all in them asking for additional documentation.

Next time you might want to read or at least understand the concept of the papers you signed.
 

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