I see this single element kill more loan approvals than probably any other single thing. …Overlay guidelines.
I continue to write about this from time to time because I’m really trying to get the message out on this.
If you thought your score was good enough to get a loan, but your lender is telling you there is a problem with your trade lines…
…you probably got caught in their “overlay guideline trap”.
Many lenders have overlay guidelines that they place on files that are more stringent than the basic FHA or Fannie Mae guidelines.
The message I’m getting on this point is – my underwriting doesn’t have overlay guidelines.
…I can get approvals often times where other banks just can’t!
…just something I wanted you to be aware of.
Thank you for reading my email – and have a great week!
Brett
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