We have just received notice from the North Pole that all those in the lending industry will not be receiving presents this year. Apparently Santa IS UPSET!!!
He is currently working on a refinance that was set to close yesterday and the lender added conditions…
As he stated to us, He has had it up to his red cherry nose with conditions.
1. The ELVES have refused to return phone calls to verify employment as they expressed this is just too busy of a time to call anyone.
2. He can’t sign his loan documents in time to make his lock as he will be leaving on an extended vacation starting 12/24.
3. The lender is asking for proof that Santa has not taken out any new loans on his sleigh.
4. The lender is requiring proof that Mrs. Clause has been in the cookie business for more than 2 years.
5. When the Social Security Verification form was sent off the information came back stating “Santa Did not Exist.”
6. Due to a lack of comps in the area and the rural property the lender is requiring a second appraisal.
7. The copy of Santa’s photo ID cannot be verified as there are too many imposters around to prove it is him.
8. The lender has required us to count the expense for reindeer food and maintenance in Santa’s DTI ratio calling it “cost of doing business”.
9. Santa has refused to sign the AKA statement as it is about 4 pages long listing this such as Kris Cringle, Father of Christmas, Jolly old man, Mr. Clause, Old Saint Nick, etc…..
10. Apparently the lender is trying to call Mr. Clause’s work “SEASONAL” and they want to verify if he collects unemployment on the off season.
11. The underwriter is questioning the large number of dependents on his 1040.
12. The underwriter is also questioning the amount of business expenses on his Schedule C, especially his travel expenses.
So all of you out there in the mortgage industry please plan accordingly as we only today left as a shopping day and you are only getting COAL.