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Updated about 9 years ago,
Loan Officer Request Questions- Are These Standard??
I'm getting prequalified for a loan at a large national bank. He requested for my pay stub, last 2 years tax returns, any applicable w2 and k1, and 2 months bank statement for source of down payment. This all seems pretty standard.
He soon told me that he would have an answer for me the next day, but came back asking for a lot more information. He is now asking for my homeowner's insurance, property tax statements, and k1. Are these items pretty standard to supply a loan officer? I don't want to be giving out more information than necessary (especially with all these identity thefts).
Especially since he told me k1 is only necessary if I have greater than 25% shares, which I don't, but he's still asking for it. I asked him why he needs all the extra items, and he didn't give me an answer. He simply listed the items he needed again...
I would think it's pretty safe to supply them to him since it's a large national bank. I just want to be extra careful and not blindly give people information without knowing why. Would appreciate all the help. Thank you.