REVscene Automotive Forum - View Single Post - mortgage renewal

Drow · 08-05-2014, 02:12 AM

i might be wrong here but i recently started out doing these kinda things at the bank

i had helped some customers do mortgage renewals... there was no income verification or debt service ratio check when i keyed in the renewal

i only did those sorta things when they actually applied for a new mortgage

mind you that was a renewal from an alrdy existent mortgage at my bank, no acquisition from another institution or anything

i do sorta believe that there is some sorta check in place, albeit it was done from me. sometimes when ppl get a mortgage handed to them by the bank, the term of the mortgage must be within the person's income / debt service ratio. some people do not get approved for some terms.

08-05-2014, 02:12 AM	#5
Drow look at these diamonds, they shining Join Date: Apr 2008 Location: Vancouver Posts: 2,800 Thanked 1,813 Times in 553 Posts Failed 634 Times in 127 Posts	i might be wrong here but i recently started out doing these kinda things at the bank i had helped some customers do mortgage renewals... there was no income verification or debt service ratio check when i keyed in the renewal i only did those sorta things when they actually applied for a new mortgage mind you that was a renewal from an alrdy existent mortgage at my bank, no acquisition from another institution or anything i do sorta believe that there is some sorta check in place, albeit it was done from me. sometimes when ppl get a mortgage handed to them by the bank, the term of the mortgage must be within the person's income / debt service ratio. some people do not get approved for some terms.