WSJ Market Watch -
Lenders Want to Know Everything
As a home buyer or refinancer, you’d expect to submit recent pay stubs and bank-account statements when applying for a mortgage loan.
But a copy of your divorce decree?
That’s exactly what happened to a recent borrower who was asked to explain a deposit of about $200 to her bank account, says Frank Donnelly, president of the Mortgage Bankers Association of Metropolitan Washington. More