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Loan Conditions


Runkle water when we are on one or loan conditions picture little utopia status of neighbor in the little looks like an antenna for a number. Okay guys but your sound won’t be life vision unplugged in like I am thousands close me to okay episode five of the Steven Tyler show and him and and and is boom it Steve and we are totally concepts in Tulsa mortgage were everywhere mortgage your were Missouri mortgage were Columbia mortgage were Colorado mortgage Colorado Springs mortgage New Mexico mortgage Farmington New Mexico mortgage where else pueblo Colorado tulsa mortgage loans Alamosa Colorado tulsa mortgage loans everywhere and really Kansas were much states so that suspects the Steven Tyler show Tyler what’s up to now we talk about today think today were to talk about loan conditions what are loan conditions what are loan conditions Tyler loan conditions here are what they start I guess what I start I know I put like three little like take away things entry Macario worked there stay still loan conditions basic information you need to qualify with Chicago garden last thing but not really telling you what we needed and then how much more is my lender to ask for right demerit will pay him the future males in a sound like one arrested another email as for another document so just used and then oh I love this one loan conditions and everything’s underwriters about person so if you think for people that think the underwriters about person were to come to talk about that little bit so what All-Star that the unit I had already diamagnetic so talking about the basic info when we get somebody prequalified and we tell them the radio find a house would come information do we request from them initial information you need obviously aside from the basic birthday social really we work or any income information we need tax returns the last two years when he W-2s to go this accident last two years a month for the pay stubs and then bank statements what else what else missing drivers license our recitals of the car or some other kind of education of the ear you say you are yeah with the verify your And then bank statements to make statements bank statements you that when he banks them for what two months and we have to prove you got enough money they should bring in a down payment we unaware the down payment came from right if so when and what else what else is there was some like other system self-employed what’s another thing I get their tax returns but while I have to get their controversial points to take an average on our income to pay stubs like summary would working on a fire in a salary or anything like that so we have to average their income based on what the reports of virus on a tactic you the street is exactly right and a lot of people that are self-employed will tell the RS they made no money in the Taylor lender they made all kinds of money right so you make sure that you got enough income to be able to report it so that we know how much you make and since yourself black to get an average have to average that soap I’ve got a get tax returns with their width of the corporation of their set up more types transport what if you’re divorced what is your divorce we need divorce decree ironically. What if you pay child support, to create the child support order to say how much you pay or receive right so she say I’ve been receiving child support for you know two years than we got prove that we are per where the child support came from and that it is part of your if it’s part of your income that I’ve got a I really get it what else let’s say that the you file bankruptcy in the past I regular bankruptcy docs let’s say that the you have a judgment on your credit that has been released or hasn’t we going to flat area some kind of proof it so you can see folks how that information can it can can’t grow just based on what as we move along the process we find out other information about you and your file information really really really grow and
then the next point is how much more of the alarm companies going there’s never a call you next hour, I think Mr. E is at the office set the alarm off so the second question is how much more is my lender grass were will the survey question, swore stuff regarding right to a report start your things are there that are that are happening out there that we need to know about Weatherby income wise or credit or collections or judgments are what… Tyler just it relates to a target we talked about before but be honest upfront give us everything upfront quit hiding anything that could be vital to your loan even if you don’t think it is vitally alone just tell us I rather be information overload then lack thereof right up into the perfect bar causes and tells us just everything just the littlest bill comes up or I got a go to the doctor tomorrow and if you cost me 1000 bucks might have enough money to close a mouse just tell me about it just disclose it to your to your I got the camera disclose it to your people to your lender because as we talked about in previous podcast to find that out anyways humans will just tell us now so okay so then how much I asked for his is can you depend on how much information is there if you have a much stuff that needs to be explained like letters or don’t want right now we have to have lots of letters reclamation about previous credit and in stuff that’s on there and that’s just part of it so that you’re really get asked for more stuff based on how much stuff you got in that you got X point so the more explaining afternoon the more work it’s probably a good report and then okay this is my favorite one of the topics because it’s is the underwriter a bad person because we hear that almost want to like I tell law officers take blame yourself like tell the buyer buyer borrower that this is your requirement don’t tell its underwriters requirement is that they literally don’t they do they hate underwriter because all you disabled introduces innovative entities that under it and and and then people are left with what you say we’re all why do you need well because it’s required every time I call that the client say the underwriter need something was The their Canadian writer every time he seen a cut Tyler Tyler’s not following my lead when I’m selling him I’m trying to set him up and he’s going all only find one of these he’s like him. A and him like Tyler come on now I need an answer this on the distance can also pick it up so we don’t underwriter dinners on a person in fact there person their human and the quirky understand that and you understand that the underwriters our friend and we want them to help us get you approve not fight them right tell you I put in another mystic statistic and we can hit our statistic button will okay television to long transformer overshadow their transformers or something you with our statistic we put down your our statistic of the underwriter the processor and loan originator are not there to make things harder for you to qualify out and if you’re having that problem fire them. Help call Steven Tyler will make sure that were not the enemies because were here to help you take at least 40 check this out when I close loans I get paid when loans get denied he can’t get approved I don’t get paid so you think I wanted pretty simple element denier we were wanted forever that’s right only rarely so if I can fear Hattaway picture prove that exactly what I am going to do sometimes at the action steps that duties so as to these five that you qualified right is harder but you know you got a bill of buck up and figure that out guys Kevin Crichton says 2.50 that means but I would like to throw 2.5 in your on behalf of Kevin Crichton who thoroughly brother from another mother and so with one of the other things Tyler that we have talked about not only is the underwriter the process from the loan originator not the the enemy but we always have good stories about people that make things harder on themselves. Like what my good lady I’m saying Tyler up six hits and you
make a lot harder whenever you gone by new car and process yell we had that Avenue day you just showed up a new cars see house is your on or off when you find $10,000 in a mattress you make a big giant cash deposit in the next day you want to contract in Houston you put thousands money down death and the I have to fix that okay that’s what I’m expected to do you go do something that doesn’t follow rules and Steven Tyler have to fix and we don’t want thanks really fixable to think I’m pretty much just time time time because you know why I him a other lenders about them but I know for a fact that it was a one-time gift from his dad Kevin said good there’s rules for that I had a document yet so it can be a one-time gift of cash from your dad the network so now it’s in there with solicitor for 60 days Kevin and I could just sit there and will be seasoned and maybe then we can figure out how you lament for sometimes I can’t even see things though so Tyler Beck said you can make a $10,000 deposit his account holder for your thoughtful people that to just wire to sticker and out old for you maybe maybe I’ll put it on black at the casino maybe I’ll put is not in Oklahoma but I spin rolled so if if you do these bad things like opposite of what your lender tells you to do okay you are just going to make the process harder and no one wants to make the process harder today they want to make the process easier Kevin said it was driver a holiday in Colorado we actually get out we actually have battle for I don’t make it when he’s in Texas so it in our mail, yacht we do have there is a provision in underwriting guidelines about marijuana related businesses and leader not that is something is coming up because there are businesses authorized to make the money so but anyway you make the process harder especially if it’s cash from any business with your Holland junk of your Holland junk or or not or let’s say Holland junk in your hauling in thing that Scalia mowed lawns you doing that stuff it’s just can be tough for us to first documents are just keep that in mind because if you do these things it’s not that we can’t go in and fix images can make the process harder and harder and harder and harder every time you do something silly and we do have people that no matter what we tell them related to run a defensive they do they hide the they lie cheat they still they not steal those bad people running some people still do not she they don’t cheat they just think that they need to hide information and that Ryan find out the window finding out or they end up doing something silly sometimes I tell people “annotated do it do it but when I don’t just be careful don’t do knucklehead stuff okay that’s all building knucklehead is a good one is easy and simple if you if your knucklehead underplay the senior your everyday blanket 6 AM and I’d like to wake of the letter and that’s a three second airborne the feels like 20 minutes a like that are of viewers can see that Kevin has switched it from drug money to his French modeling career is where really got the cash from so painless if you if you are self-employed and we can fairly document that them is not really know it’s definitely comes that so okay so what I would call like an action step for something that was always good for anyone with you again were talking about water loan conditions where they come from and they come from you in your life and the different stuff that the that comes up in the process of getting qualified but I wrote on here be proactive in getting anything and everything that is asked for you to your loan officer immediately it will make you smile and guess what when it makes you smile it makes me smile every closes our house and make it on time and the most annoying thing for me with a customer is when I call and I say I need ask and they say no or walk writing in Hueneme why why why we need to pay need I need no will master something that we didn’t need that deserted charter, context, so it is okay to like
that gets it could move out at second top so yes so you want to make me smile make you smile the best way to do that is to just get stuff no complain about gas tank you give it to me anyway on a call every time I end up getting here’s the thing results I am a perfect answer to anybody that says want why do you need that will Mr. Smith the drone the making of names him what he needed her $47,000 to ourselves and to which they answer 140 single source cash to which I answer I know that’s why need that document and they say okay alternative bring out her voice and those are cash or give Steve this piece of paper where they picked up the phone paper and 99.90 999999% off people say I just can’t there’s no way I can get what happens they get it get it up to get it so just don’t fight fight a fight with me about a document that you’re getting because it am asking you to get because that is good and really just the just delays the process so obvious Tyler set on a previous podcast if I’m so static Monday Llosa said Tuesday in the to the terms and a Friday and then you know or five Acer your closing and you’re stressed out because you don’t know if her files proposing your work or about whether Nichols on time and that I’m just like every time I asked you for a piece of paper at the beach up to get it to get like 10 days to give me a paystub that silly don’t do that enough though to that because if you do that and rent bill because you won’t be own home so so to recap loan conditions or we start with the reason why we don’t get loan conditions is because we provided at a time so if I submitted your loan file to underwriting without your pay stubs or you choose I would get a condition that I need to know so much that stuff we collect we talked about on the front and Debbie to space does bank statements all I get stuff that we need a divorce decrees and child support orders and all that stuff is there because we know the underwriters can you do it come on a been doing this for a long long time so since I been doing it for long time no address for so we just are you that a front right tire as often as possible and then how much more is while under grass for a Masters much as I need so trust me no one in on you and asking for stuff without legal to have one of those like that, nothing went wrong we have no that wasn’t in the and we’re so when I just can they keep bugging you and asking for crap that we don’t need to just keep that in mind people were to ask you only for the things that we need to get your loan done but be in over provider if that would be okay with you being over provider and then is the underwriter about person we talked about and we want in order to be your best friend and working ask you for stuff that we need an underage help you get approved not the other way around guys are right so that’s our podcast for today Steve Curry Tyler wyvern totaling concepts and we are a Tulsa mortgage loans company were Missouri Columbia Missouri tulsa mortgage loans company were Colorado Colorado Springs we do tulsa mortgage loans all over so if you need a tulsa mortgage ¬†loans don’t forget to visit our website you go to TLC you can go to get you can go see card we get lots sites were markers of several what you think Tyler we also sites a ton that’s the deal at all of the neck show guys adios