2nd Credit Report Pull
Fanne Mae just announced that lenders will be required to provide a 2nd credit report be pulled on the actual day of closing, prior to the loan funding. This new credit check will apply to conforming loans under 417,000.
If the borrower incurs additional debts after the lender pulled the initial credit report, it may delay or stop the closing all together.
Beware future home buyers must never go out and apply for credit while the home loan process is active.
Lisa Scanlon, CSA
www.scanlonsigningservices.com
941-447-7130
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