10.16.2002, 15:32
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Banned
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Join Date: Apr 2001
Posts: 851
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Re: Boosting scores for mortgage app
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Originally posted by Quixote
I lied about nothing on my loan app. Because it was a Stated Income, very little documentation was needed. They pulled my credit, called my work to verify employment, and that was pretty much it. If I had been asked to list every debt, I certainly would have included the CL on it. But, I wasn't asked. The CL could have been reporting in time, and I still would have qualified. The mortgage broker told me "Don't worry about it, your scores are good enough". I just wanted an extra margin on the scores.
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Quote:
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Certification: I/We certify that the information provided in this application is true and correct as of the date set forth opposite my/our signature(s) on this application and acknowledge my/our understanding that any intentional or negligent misrepresentation(s) of the information contained in this application may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq. and liability for monetary damages to the Lender, its agents, successors and assigns, insurers and any other person who may suffer any loss due to reliance upon any misrepresentaion which I/we have made on this application.
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http://www.alphaloans.com/downloads/...Mae%201003.pdf
Did you sign that form without all your debt disclosed?
You didn't say it was a "Selective Debts Disclosed" loan, along with "Stated Income."
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