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Updated over 4 years ago, 04/23/2020
Can a lender asking for documents requested by investor
Hello BP community,
I’m in the process of securing financing for a home with an online based lender who, one day before proposed close date, has come back and requested twelve months of cancelled rent checks for rent paid to live in my own home. I found this highly unusual and upon asking, the lender said that their investors are asking for this or twelve months of bank statements showing I paid the rent or else the deal won’t close. Nothing unusual about my financial history and I’ve had no problems buying multiple properties the last year. I’m surprised that the investor is now directly dictating new requirements for lender approval, some of which seem ridiculous. Has anyone else encountered this? Is this related to covid?