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Updated over 3 years ago,
Post close, lender asking for MORE financials
I purchase my first MF 6 mos ago, and all is going well (and all loan payments on time, etc).
Just got letter from my bank asking for ‘19 and 20 tax returns, updated and signed personal financial statement, and rent rolls from 12/31 and 3/31.
I suppose I’m confused why they ‘care’ about my personal statements. My bank doesn’t do this for my home mortgage. Is this a common annual practice for commercial loans?