LO should have caught it upfront. 

This is based in part on what my go-to commercial LO tells me, and in part on what consumers in commercial loans gripe to me about.Commercial lending is often based on the cashflow of the asset, and not so much your personal income situation (meaning if you make enough personally, a residential lender will let you do cashflow negative things that a commercial lender might say 'no' to).

The words "quit my job" make me cringe as an LO, those are the last things I want to hear.

Lo and Behold, payment comes quickly.

If a L/O in Texas is not performed to the letter of the law, the Buyer has considerable recourse against a Seller (YOU) and you can end up in a much worse financial predicament.

Two family members experienced L O N G delays getting buyer financing in Calif. 

I refinanced using a jenky internet lender for the experience (professional development), and actually had to teach my 1-800 number LO how California property taxes worked and how to read a prop tax bill (what he was doing would have resulted in a "Surprise!"

The only thing a LO or mortgage broker in the Bay Area should be asking you for once you go into contract is updated paystubs and bank statements, to confirm you haven't received a paycut or spent the money on partying.

Hi @Joe Geist,The only thing I'll add to what others have already said is that Fannie Mae will lend to a revocable living trust, if you can convince an LO that it's worth the extra hour or so of her or his time to do it in order to earn your business. 

Be as crystal clear as possible: "Hey LO Schmuckatelli at XYZ Mortgage, this conversation and processing my paperwork is a complete waste of your time if your firm has overlays pertaining to the number of financed properties owned.